SatNav App reaches £1,300,000 in funding

Author

Beer and Young

04 February 2015

We are delighted to continue to be successful with our client, a significant player in the satellite-navigation-app market, having now reached £1.3 million of new money coming from our investors. They have grown their installations from 20 million, when they first approached us, to 24 million and the new product has now been listed across the globe.

Our client is a significant player in the satellite-navigation-app market, as is evidenced by the installation of their first products onto 24 million media devices on pure organic growth and without marketing spend. They enjoy 4-star ratings on the internet for their B-product from some 85,000 reviewers and have most recently released their latest versions internationally.

Our client approached us to raise capital primarily for marketing and spread of their new state-of-the-art app version. They aim to double the number of installations onto social media – the goal is to reach +40 million installed users globally.

Very rapidly, we generated a record amount of interest from investors. We continue to advise our client and manage this process. To date we have raised £850,000 for working capital and we continue to seek funding for our client, our target being £2 million. Our client is delighted and the latest app is now being installed across the globe.

“We have seen a great deal of interest from investors when they hear this story which isn’t surprising – our client is the last independent company of its size in this niche sector. The future prospects are extremely exciting and we continue to support and advise our client as we raise further funding for marketing and expansion.” – John B. Cowper, FCA, B&Y Associate Director

At B&Y we continue to be active across all markets from development capital for established firms, exceptional early stage businesses and of course, turnaround. We raise capital through our business angel network with investments ranging between £250,000 to £5million so please do feel free to get in touch to see how can help.

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