ROTTERDAM, Netherlands – The Dutch company Virtual Vaults, which offers virtual data rooms based on subscriptions instead of gigabytes and pages, has opened its first international office in London. The privately-held SaaS company is the fastest growing provider of virtual data rooms for Merger & Acquisitions (M&A) due diligence in the Benelux thanks to its clear vision on user experience.
Virtual Vaults business strategy has led to more than 2000 deals being concluded per year via its platform, by both private and listed companies including Bank of America. Expansion into the United Kingdom – the largest M&A market in EMEA – is the next logical step.
The London Virtual Vaults office, located in the Metal Box Factory, in the tech hub in Bankside, is led by Mike Hinchliffe, Chief Revenue Officer. He heads a team of six professionals with strong backgrounds in technology and sales, with the goal of growing the UK team and revenues significantly over the next 18 to 24 months.
“We're thrilled to bring the best virtual data room experience to our UK customers,” says Hinchliffe: “20% of our revenues are already generated from outside the Netherlands. We have international experience, so we're ready to take this step. London is a really thriving technology hub with many startups and a healthy tech ecosystem. We fit nicely into that and we aim to partner with like-minded tech providers as we grow.”
A key advantage of the Virtual Vaults solution is its intuitive user experience. Every step in the M&A process is seamless. Customers can open a secured data room either from their desktop or within minutes taking advantage of 24/7 support; the Q&A section provides unique chat functionality; and Virtual Vaults uses fixed rate plans with unlimited data, so there are no costly gigabyte-based charges on any deals.
CEO of Virtual Vaults, Jeroen Kruithof, says: “An acquisition or merger is a complex and sensitive process, which we streamline down to the last detail for all parties involved. Tech has to serve the users, so we make it extremely intuitive. A large part of our team in the Netherlands works non-stop on product development, and with our fully scalable software, we are ready for internationalisation.”
Following expansion into the United Kingdom, Virtual Vaults will focus on countries with strong markets for M&A and high demand for the latest technology, including Scandinavia, Germany and France.