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A Leicester entrepreneur has raised a further £1.3 million for her software platform which helps companies manage rebate and price incentive schemes.

Leanne Bonner-Cooke MBE, the founder of e-bate, has completed a third funding round for the business, winning backing from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, Mercia’s EIS Funds, and angel investors.

She said the platform has seen an eight-fold increase in its customer base since 2019, while the latest funding brings the total raised by the company to over £3 million.

The money will allow it to expand its sales team and accelerate product development.

Ms Bonner-Cooke, who also founded Leicester’s Evolve-IT Consulting and was awarded an MBE in 2017 for her services to women in business, said: “This investment is key to the next level of growth within our business.

“The next 12 months are going to be very exciting, seeing us reach other markets and geographies with a product that is always innovating for the good of our customers.”

A spokeswoman for the business said: “Rebates and commissions are commonly used in industries such as pharmaceuticals, manufacturing, consumer goods and construction.

“e-Bate allows companies to overcome the complexities involved in managing such schemes by automating the process, helping to reduce overheads and increase revenues.”