Cardsave

Cardsave is the UK’s largest independent provider of merchant acquiring services to small and medium sized enterprises (“SMEs”).  Exponent acquired the business with Clive Kahn (who we knew from his time Travelex) and the existing CFO and COO in August 2007. At completion we introduced Alastair Lyons (who we knew from his time at Partners for Finance) as Chairman who brought deep knowledge of the Financial Services sector and who worked closely with the executive team to drive improvements across the business. 

During the three and half years of Exponent’s ownership we backed the team in extensive re-engineering of the salesforce (increasing productivity by over 30% per salesperson) while at the same time growing the number of salespeople from 32 to 65. As a result we grew the customer base from 23,000 to 43,000.  In addition we launched an online payments business and a business targeting the UK charities sector which were both growing at over 100% per year at the time of our exit. 

The business was acquired by WorldPay in December 2010.

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