Leeds fintech company DealTrak has been acquired by insurance company AutoProtect Group.
DealTrak’s platform helps over 1,100 dealerships across the UK to manage the finance and insurance side of their business.
Based at Leeds Dock, it has grown quickly since launching in 2013 and now turns over £3.6m.
Formed in 2004, AutoProtect Ltd is a niche provider of automotive financial service products and has written in excess of 5.1m contracts since its inception.
As part of the deal, DealTrak’s former MD, Martin Hill, has been promoted to the role of AutoProtect Group’s director of strategic partnerships, and will oversee the strategic direction of its automotive portfolio.
Hill said: “The news represents a very exciting time for the AutoProtect Group. As some of the UK’s leading automotive brands, we are set to harness the collaborative power of a close, cohesive working relationship led by a robust group management structure.”
AutoProtect Group has said it will now be recruiting for several new roles in ealy 2020, across functions including technology and data science.
It has also appointed a new CEO, Matthew Briggs, with Wil Beaumont moving to become a non-executive director.