London-based Pouch received £75,000 worth of investment in exchange for 18% equity after pitching on popular TV show Dragons Den.
Founders Ben Corrigan and Jonny Plein pitched the show’s judges for funding and after receiving offers from all five of the investors, eventually agreed to partner with Touker Suleyman, Tej Lalvani and Jenny Campbell. Each investor received a 6% stake in the company.
Pouch has developed a browser extension that claims to automatically source the best available and valid voucher codes, presenting them to consumers at the checkout stage.
Corrigan and Plein said: “Being in the Den was an amazing experience for us, and we really enjoyed sharing our plans for Pouch with the Dragons.
“When all five Dragons said they were in, we were thrilled! We agreed before we went in what our negotiating tactics were and how much equity we were willing to give away, but we never thought we’d have the option to work with all five investors so that was an interesting curveball that put us on the spot a bit.
“We’re looking forward to seeing what we can achieve with substantial investment behind us and are excited for the future of Pouch post-Den.”
Plein, also the firm’s chief financial officer, added: “We’re delighted with how things went in the Den!
“With five dragons backing us after just nine months in business, it’s clear validation that Pouch is a great tool for both the online shoppers and the retailers we work with. With investment and support we’re confident we can turn Pouch into the worst-kept secret in online shopping.”