A business software firm in Leicestershire is set to call in administrators.
Mountsorrel based eBate was set up by well-known entrepreneur Leanne Bonner-Cooke MBE in 2018.
She sold the business in 2023 to experienced tech specialist John Sullivan.
The eBate software platform helps companies manage and simplify rebate and promotional incentives schemes. In 2022, eBate raised £1.3m through the MEIF Proof of Concept & Early Stage Fund.
Rebates and commissions are commonly used in industries such as pharmaceuticals, manufacturing, consumer goods, and construction.
eBate allows companies to overcome the complexities involved in managing such schemes by automating the process, helping to reduce overheads and increase revenues.
However, on Wednesday (August 21), eBate posted a notice of appointment to appoint administrators through law firm Trethowans.
In its latest accounts, made up to the end of March this year, eBate said it employed 29 people.