A West Yorkshire-based mobility technology business is planning new product development and a pan-European launch of the company's technology next year following a £5m investment by BGF.

With its head office in Saltaire and a tech development centre in Leeds, Fleetondemand has developed a platform connecting thousands of business people around the world to vehicle rental, car leasing, transportation services and business travel.

The business was established by fleet and technology entrepreneur Justin Whitston, chief executive of Fleetondemand, who founded Nexus Vehicle Rental in 2000.

Justin Whitston said: "The investment is our first deal and we now have the perfect long-term partner in BGF. We were approached by many potential partners, but it was clear right from the start that the team and investment strategy at BGF was a perfect fit for the next phase in our growth journey.

"This deal is testament to the incredible team of people we have across our business who continue to drive innovation and development of our technology platforms. We see direct penetration into the vehicle hire and business travel sectors as being a key part of our strategy, alongside our unique capabilities across our Mobility-as-a Service technology, which is first to market.

"The growth capital will be used to ramp up engineering and product development and rapidly accelerate our sales strategy in the UK and pan European launch in 2019. It’s a hugely exciting time for our business and we look forward to working together with BGF to deliver our growth potential over the next three years."