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Haatch's Latest Exit: How Re-flow Delivered Up to 6.5x Returns for Our Investors

By
Jessica Fox
By
Haatch

At Haatch, our mission is simple: back, scale, and exit high-growth B2B SaaS businesses, delivering exceptional returns for our investors. Today, we’re excited to share our latest success story—the all-cash exit of Re-flow, a field management software leader that generated up to 6.5x returns for our EIS investors.

This marks another milestone in our track record of investing in, nurturing, and successfully exiting early-stage SaaS companies. This is precisely why we remain so committed to this sector.

Backing a Game-Changer in Field Management

We first invested in Re-flow in 2020, drawn to its mission to digitally transform outdated workflows in construction, highways, and infrastructure. Before Re-flow, field teams relied on paper-based processes, manual compliance tracking, and inefficient communication.

The Re-flow platform changed everything, offering a mobile-first SaaS solution that streamlined real-time communication automated workflows and ensured seamless compliance for field teams and their office-based counterparts.

Fast forward to today, and Re-flow has become an industry leader, counting AA, Tarmac, WJ Group, HTM, and Eurofins Forensic Services among its enterprise clients.

The Growth Story: From £27k MRR to a 7 Figure Exit

Re-flow had 1,500 users when we invested and just £27k in Monthly Recurring Revenue (MRR). With our backing, strategic input, and the exceptional execution of the Re-flow team, the company scaled rapidly, surpassing:

✅ 30,000+ users

✅ Enterprise client growth across multiple sectors

✅ Recognition as one of The Times Best Places to Work (2023 & 2024)

This high-growth, high-retention model makes B2B SaaS so compelling and why it remains a core focus of our investment strategy.

Delivering Strong Tax-Free Returns for Our Investors

Haatch’s EIS investors had exposure to Re-flow through our funds, generating significant tax-free returns:

📈 EIS Fund 4 (2020 investment): 6.55x return

📈 EIS Fund 8 (2022 investment): 4.10x return

Both investments surpassed the minimum 3-year EIS holding period, meaning all gains are completely tax-free.

This is precisely why EIS investing is such a powerful tool. Not only does it allow us to back exciting, high-growth businesses, but it also delivers significant wealth creation potential for investors tax-efficiently.

Why This Exit Reinforces Our Strategy

At Haatch, we believe in backing early-stage SaaS companies solving deep pain points for their clients. Our investment in Re-flow aligned perfectly with our model:

✅ Real Problem-Solving – Re-flow addressed deep inefficiencies in field management, making it indispensable to its customers.

✅ Strong Revenue Growth – Expanding from a niche solution into a broader, highly scalable software ecosystem.

✅ Enterprise Adoption – Securing multi-year contracts with major infrastructure players.

✅ Successful Exit – Making it an attractive acquisition for a private equity firm, delivering a strong return for investors.

Re-flow is just one of many companies in our portfolio following this path. With 90% of our current portfolio still under four years old, we are entering an exciting phase where more of our businesses will begin to reach maturity and prepare for exit.

Looking Ahead: More Exits to Come

This successful exit is a testament to our strategy and execution at Haatch. But we’re just getting started.

Our portfolio is over 100 companies, and our team is growing, but our focus remains the same: identifying, scaling, and exiting world-class companies that drive exceptional returns for our investors.

As the market for B2B SaaS continues to grow, we’re more confident than ever in our ability to deliver game-changing success stories like Re-flow in the years ahead.

If you’re interested in investing alongside us and being part of the next wave of high-growth SaaS success stories, find out more here.

By
Jessica Fox
Head of Investor Relations
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