Matches suppliers of a growing range of essential business services with a highly fragmented micro-SME customer base
Verastar is the leading UK provisioning marketplace, matching suppliers of a growing range of essential business services with a highly fragmented micro-SME customer base
- Sales £70m
- Employees 700
- Industry Business Services, Technology, Telecoms & Internet
- Headquarters UK
- Geographic Footprint UK & Ireland
- Website www.verastar.co.uk
- Investment Date April 2011
- Fund VIP I
- Serves over 100k micro-SMEs in the UK
- Broad suite of essential services, including communications, utilities and financial services
- Largest independent sales force in the UK targeting the micro-SME market
- Challenger status in large end-markets and is supported by regulatory movement to increase market competition
Highlights since Vitruvian investment
Service and Channel Extension
Verastar’s service portfolio has more than doubled in the past four years.
This includes the addition of electricity, gas, water, and payment services.
Verastar is now the largest independent supplier of water in Scotland having
just entered the market in 2013.
Historically operating only a direct sales model,
Verastar now also uses online distribution and a broker
network, and continues to develop its partner
Verastar has completed several strategic acquisitions with active support from the Vitruvian team in order to broaden its service offering.
INVESTING IN PEOPLE
In order to help deliver on its ambitious growth plans, Verastar has added a new Finance Director, Strategy and Business Development Director, Commercial Director, Legal Director, and Chief Information Officer, with the business overall expanding from approximately 500 to more than 700 employees.
Verastar employees make dreams come true
and raise £12,000 for children’s charity.
” Since Vitruvian’s involvement we have grown our total employee base by over 40%, including several key new senior hires. The team at Vitruvian have always been closely involved and have strongly encouraged us to build a broad and deep team to help support our growth. “
Chris Earle, Chief Executive of Verastar