Envestors has announced it has secured £2m in funding to grow its digital marketplace for start-up investment, The marketplace, powered by Envestors’ white-label investment platform Envestry, facilitates the investment process for all parties, making it easier for start-ups to raise investment and for investors to build diverse portfolios.
Partnering with networks, accelerators and incubators, Envestors provides a branded site where they can engage investors, promote deals and uniquely connect to other networks.
The Envestry platform already has a number of customers including: SetSquared, the number one global incubator, a collaboration between the Universities of Bath, Bristol, Exeter, Southampton and Surrey; Bristol-based network Plerith; soon-to-launch OBN Ventures, the life sciences membership organisation; and Prospedia Capital which focuses on advanced automotive technologies.
This new investment will be used to grow the network of partners using Envestry, enhance the platform, building on ‘smart matching’ functionality and develop Envestors’ investment readiness services, to help start-ups increase their chances of raising capital.
“There is no one place to go to find investment or to find investment opportunities – and there needs to be. With a single, central place, we can help start-ups thrive and investors get access to the best deals.” says Oliver Woolley, CEO of Envestors.
“The industry has also been slow to adopt digital, with many feeling that face-to-face meetings and pitching events are the best way forward. But behaviours have shifted in the last ten years to the point where that argument doesn’t hold water. All purchasing decisions, whether you’re buying a pair of jeans, a new car or building your investment portfolio, start online with browsing and initial research.”
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Envestors aims to solve these challenges by creating the single marketplace for start-up investment in the UK.
“SidebySide’s ethos, as our name implies, is to invest in companies and provide strategic input to help them grow. This is a new fund and Envestors is one of our first investments. We’ve known Envestors for a number of years and are equally as passionate about creating a single marketplace for early stage companies and investors. I look forward to seeing them do much more on a much bigger scale,” says John Bailye, Managing Director, the SidebySide Partnership.
David Martell, Founder of Chargemaster says, “Without platforms such as Envestors we would not have been able to the raise the £15m required to expand our business. The 51 private investors who invested under the EIS through Envestors shared a profit of £48m when we sold the company to BP – proof the model works.”