Newly appointed executive chairman, Geoffrey Finlay (Inset), who invested alongside the syndicate and has a background and expertise in building software businesses internationally, said: ‘Lysanda is extremely innovative and has ground-breaking patented technology which will play a transformational role in how vehicles are managed, driven and insured. The technology has been developed by an impressive team with strong technical know-how, and I look forward to being involved in its future development and expansion into the broader marketplace.’

The funding will allow Lysanda to target high-growth markets including the vehicle breakdown and insurance sectors

Drivers for Lysanda’s growth include the need for managing fuel costs and carbon emissions, more targeted driver information for insurance, the ability to reduce claims costs and the development of the instant emergency call/breakdown call market.

Cédriane de Boucaud, partner at lead investor Disruptive Capital, commented: ‘Our investment approach is all about identifying opportunities for positive disruption of markets. The combination of impending legislation, rising fuel costs and concern for the environment creates real potential for revolutionising the fleet management and associated insurance market as well as benefiting individual drivers. Geoffrey Finlay has a great track record and is wholly aligned with us in accelerating the growth of this business.’