Digital transformation specialist set to drive further growth across the UK, US, Europe and the Middle East.
Equiteq acted as exclusive financial advisor to Proventeq, a digital transformation specialist, on a multi-million-pound investment from BGF. This investment will boost Proventeq’s offerings in Enterprise Content Management (ECM) modernisation, Intelligent Information Management, and AI-led innovation.
Founded in 2007, with headquarters in the UK, and offices in India, Dubai and the US, Proventeq has a global customer base in over 30 countries. The company is owned by its three founding shareholders: CEO Nitin Mahajan, CTO Rakesh Chenchery, and CCO Balu Herbert.
Proventeq recorded 24% revenue growth last year, assisting companies in migrating and modernising their legacy ECM platforms, implementing compliance and governance solutions, and accelerating the adoption of AI and Copilot-based solutions.
Following BGF’s investment, Proventeq is set to drive further growth across key regions, including the UK, US, Europe and the Middle East. The company aims to capitalise on opportunities in data security, compliance, and AI solutions over the coming years.
“As companies look to modernise their legacy systems and ensure regulatory compliance, robust data management and governance becomes essential. Our goal is to help organisations establish strong foundations with secure and modernised data platforms, enabling them to harness the power of AI and automation. With significant opportunities in the market, we’re delighted to partner with BGF, as we expand and further develop our proposition, " said Nitin Mahajan, CEO of Proventeq.
Following an introduction via BGF’s Talent Network, Tim Wallis will also join the Proventeq board as Non-Executive Chair. Tim, former CEO and Founder of Microsoft Partner and SharePoint consultancy Content and Code, brings a wealth of experience from the world of Microsoft Partnerships, and will play a key role in driving forward the growth of the business.
Nitin Mahajan commented: “We’re excited to welcome Tim aboard at this stage of our growth journey. He is well respected within the industry and his knowledge of building a digital transformation consultancy is second to none. We look forward to working together over the coming years.”
“With more focus than ever on AI and compliance globally, there is a critical need for experienced, tech-enabled consultancies in this area. Proventeq is an exciting tech business, operating in a market with strong growth dynamics. The company has a highly experienced, technical management team with an impressive blue-chip client base. We look forward to supporting the business, and working alongside Tim Wallis, as we look to scale it in the future, ” added Guy Pope, Investor in the BGF Reading office, who led the deal.
Commenting on Equiteq’s role in the transaction, Nitin Mahajan said: “Equiteq, led by Emmanuel, supported us throughout the journey, providing invaluable guidance to secure both optionality and certainty as we sought the right financial sponsor for the next phase of our growth. Their sector expertise was instrumental in positioning our company and shaping our strategy.”
Emmanuel Kostucki, Managing Director at Equiteq, added: “It was a pleasure working with Nitin, Balu, and Rakesh on this transaction. We’re delighted with the outcome, as BGF is the ideal partner to support Proventeq in the next phase of its growth. With its leadership in AI and advanced technology for intelligent content management and digital transformation, Proventeq is exceptionally well-positioned for continued success with this new long-term investor. I’m confident this partnership will propel their growth to new heights."