Utelize Mobile leverages value in its IP to secure a £600,000 loan from NatWest, supported by Inngot’s online IP platform

Utelize Mobile leverages value in its IP to secure a £600,000 loan from NatWest, supported by Inngot’s online IP platform

19 Nov 2024

Utelize Logo
Utelize Logo
Utelize Logo
Utelise Mobile gets £600k loan from NatWest

Tools and services used

About Utelize Mobile


Utelize Mobile is a Worcestershire-based mobile software and managed services scale-up which helps large UK and multi-national firms to professionally deploy and manage end user devices (e.g. smartphones, tablets, laptops) and mobile connectivity.


Utelize’s services are built around its proprietary mobility management platform (Inview Mobile) which supports device inventory and logistics, end-user device support, mobile network cost & usage management as well as its recently launched Global Enterprise Mobile Data service (SureSIM Global) that provides real time control of mobile data usage and reduced costs in 195 countries. This means the company can deliver a complete solution that enables large UK and global organisations to materially reduce their corporate mobile network costs, whilst releasing IT teams from the challenges of supporting mobile devices, connectivity and end-user mobile technology support.


The company was founded in 2012 by telecoms industry veterans Matt Atkinson and Kevin Steed and has won multiple awards since then.


The Challenge


Utelize had reached a point in its growth where it had the reserves to accelerate investment in developing its Inview Mobile software platform or to complete an acquisition to enhance skills, but not both at the same time. As company co-founder and managing director Matt Atkinson says: “We had the spare funds available to complete the acquisition, but that would have starved us of growth and investment capital for our Inview Mobile software platform.


With the IP-backed loan from NatWest, we can accelerate development of the platform and simultaneously expand our team and technical capabilities with the acquisition and additional in-house new recruitment, which has already expanded our headcount by a further 10%.”


Matt became aware of the NatWest High Growth IP-backed loan proposition after attending events where Neil Bellamy NatWest’s Head of Technology, Media and Telecoms Markets, was presenting. Matt says Neil suggested he look at the NatWest HGIP proposition; so he explored it and decided to apply. “One key benefit to a company in our position is that using the IP as collateral means we don’t need to give personal guarantees. As a management team, we’re already 100% invested in the growth of the business and so that’s a really important benefit for us.”


The NatWest High Growth IP-backed loan was launched in January 2024 in partnership with IP evaluation experts Inngot. Loans for IP-rich scaleup SMEs start from as low as £250,000 and go up to £10m. Loans are secured against up to 50% of the value of the firm’s qualifying intangible assets, as determined by Inngot’s sophisticated IP identification and valuation toolkit. The IP-backed loan targets growth companies which are rich in intangible assets, but have few tangible assets, making it difficult or even impossible for them to get traditional lending from banks. Software, patents, copyrights, trademarks, registered designs and other intangibles can be valued and used as collateral.


The Solution


Matt Atkinson says: “For Utelize Mobile, the IP-backed loan meant that we secured better financial terms, avoided the need for personal guarantees, and the professional review of our IP from Inngot has confirmed that the continued development of our IP is not only helping us to differentiate from competitors, but it is also increasing our business valuation.”


He adds that going through the valuation process has delivered some other benefits. “It has helped us focus on a number of areas where we can use our IP to develop different services for our clients. We knew we needed to invest in our IP; but now we have a much clearer idea of where and how.”


Alyson Poulson, NatWest’s Senior Relationship Manager, based in Coventry, helped Utelize Mobile with the IP-backed loan process. She says: “Utelize Mobile is exactly the type of business that we are looking to assist through our High Growth IP loan. This award-winning company has a clear growth strategy and proven track record within the industry — they just lacked the traditional tangible security usually required for borrowing funds. We were able to introduce them to our High Growth IP backed loan to optimise the value of the company's intangible assets as security.”


The result

£600,000 IP loan approved by NatWest


Utelize Mobile successfully negotiated a £600,000 finance package from NatWest, using its IP as collateral, and recently completed its acquisition and commenced the accelerated investment in its Inview Mobile platform, allowing it to accelerate development of their Global Enterprise Mobile Data eSIM (SureSIM Global) that provides IT teams real time visibility control of mobile data usage and reduced data costs in 195 countries.



Matt Atkinson - Managing Director and Co-Founder - Utelize Mobile

For Utelize Mobile, the IP-backed loan meant that we secured better financial terms, avoided the need for personal guarantees, and the professional review of our IP from Inngot has confirmed that the continued development of our IP is not only helping us to differentiate from competitors, but it is also increasing our business valuation.

Matt Atkinson - Managing Director and Co-Founder

More Case Studies

OxDrive uses Inngot IP audit to help plan its IP strategy

OxDrive uses Inngot IP audit to help plan its IP strategy. OxDrive specialises in the design and manufacture of robust, integrated, electric drives.

OxDrive uses Inngot IP audit to help plan its IP strategy

OxDrive uses Inngot IP audit to help plan its IP strategy. OxDrive specialises in the design and manufacture of robust, integrated, electric drives.

OxDrive uses Inngot IP audit to help plan its IP strategy

OxDrive uses Inngot IP audit to help plan its IP strategy. OxDrive specialises in the design and manufacture of robust, integrated, electric drives.

OxDrive uses Inngot IP audit to help plan its IP strategy

OxDrive uses Inngot IP audit to help plan its IP strategy. OxDrive specialises in the design and manufacture of robust, integrated, electric drives.

Utelise Mobile gets £600k loan from NatWest
Utelize Logo

Utelize Mobile leverages value in its IP to secure a £600,000 loan from NatWest, supported by Inngot’s online IP platform

Utelize Mobile successfully negotiated a £600,000 finance package from NatWest, using its IP as collateral, and recently completed its acquisition.

Utelise Mobile gets £600k loan from NatWest
Utelize Logo

Utelize Mobile leverages value in its IP to secure a £600,000 loan from NatWest, supported by Inngot’s online IP platform

Utelize Mobile successfully negotiated a £600,000 finance package from NatWest, using its IP as collateral, and recently completed its acquisition.

Utelise Mobile gets £600k loan from NatWest
Utelize Logo

Utelize Mobile leverages value in its IP to secure a £600,000 loan from NatWest, supported by Inngot’s online IP platform

Utelize Mobile successfully negotiated a £600,000 finance package from NatWest, using its IP as collateral, and recently completed its acquisition.

Utelise Mobile gets £600k loan from NatWest
Utelize Logo

Utelize Mobile leverages value in its IP to secure a £600,000 loan from NatWest, supported by Inngot’s online IP platform

Utelize Mobile successfully negotiated a £600,000 finance package from NatWest, using its IP as collateral, and recently completed its acquisition.

Load More

Load More

Are you ready to start your IP journey?

Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders

Accreditations

Copyright © Inngot Limited 2019-2024. All rights reserved.

Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders

Accreditations

Copyright © Inngot Limited 2019-2024. All rights reserved.

Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders

Accreditations

Copyright © Inngot Limited 2019-2024. All rights reserved.