Microlise will be listed on the AIM market of the London Stock Exchange on July 22, with the company targeting growth in the van market.
The Group raised £61.2 million from investors through the issue of shares at a price of 135 pence per share, which sets the value of the fleet technology company at £156.5m.
The decision to list on AIM, says Microlise, will support the next stage of development of the business, including broadening its product offering and growing globally.
Nadeem Raza (pictured), CEO of Microlise, said: "With an established track record of growth, proven management, and a market-leading position in providing technology solutions to fleet operators, Microlise is well set to capitalise on what we believe to be a major growth opportunity.
"As well as raising the profile of the Group and increasing our ability to attract and retain the best talent, our listing will support the next stage of our development.
“This development means continued product innovation, growing our international operations, and entering new market segments such as light commercial vehicles.
“The listing will enhance our ability to serve and support our existing, as well as new customers. We are very excited about the future."
Established in 1982, Microlise employs around 350 people based at the Group's headquarters in Nottingham, as part of a total staff of 500 globally, with operations predominantly in the UK and offices in France, India, and Australia.
Microlise's transport management software aims to help fleet operators improve efficiency, safety and reduce emissions. Its proprietary modular platform was specifically developed to provide an end-to-end technology solution for fleet customers.
The Group has a diverse customer base, including organisations representing 88% of the UK grocery retail market by market share. Other customers include Culina Group, DFS, Hovis, MAN Truck & Bus UK, and Yodel.
The listing, it says, will help Microlise realise the significant revenue potential within the existing customer base and up-sell and cross-sell Microlise's products.
It is looking to penetrate new geographies and market segments, including the market for smaller fleet sizes and different vehicle types, such as light commercial vehicles. Furthermore, the listing provides the opportunity to accelerate the Group's growth strategy through targeted M&A, it said.
The money raised will also support further investment in research and development.