Simplybiz Mortgages-owner Fintel has lifted its warchest to £120m to “support growth and acquisitions” across its software and business support services units.  

The Aim-listed group said it raised its revolving credit facility to £120m from £80m in July, “to support growth and acquisitions,” in a first-half trading statement. 

It has integrated nine acquisitions across the group in a report covering the six months to the end of June. 

Fintel chief executive Matt Timmins added: “With a streamlined operating structure, a scalable and agile operating model, and continued investment in high-margin, recurring software and data revenues, we are better positioned than ever to capture the substantial opportunities ahead.” 

The group’s services unit — which provides compliance and business support to mortgage advisers, financial advisers and wealth managers – posted sales up 20% to £24m from a year ago. 

However, Simplybiz mortgage club membership revenue, which is part of the services unit, fell 10% to £4.4m over the same period. 

Overall, the group posted pre-tax profit up 8.7% to £2.5m on revenue up 19% to £42.4m from 12 months ago.