UK FINTECH SCALEXP CLOSES SEED FUNDING ROUND AS FINTECH CONTINUES TO SEE MAJOR INVESTMENT UPTICK
Round closes as UK reports 6% increase in female founder fintech investment in 2021*
ScaleXP – the automated analytics platform that helps small businesses consolidate their financial and sales data – today announces that it has raised £600,000 in a seed funding round.
Backed by Cambridge Angels, Angel Academe, Syndicate Room and Founders Factory, the fundraise will help the company to develop its platform and services, while also accelerating customer acquisition. Alex Hirsch, who led the investment series, will take a position on the ScaleXP advisory board.
The fundraise comes at a time where businesses are under enormous pressure to bounce back from the pandemic and resume their ambitious growth plans. Founded by Suezann Holmes – who has previously held senior positions at MOO and Virgin Media – the new platform will give small businesses the necessary tools to consolidate disparate financial and sales data, prepare for fundraising and make more informed decisions about their future growth plans.
Suezann Holmes, Founder Scale XP, says:
“The idea for Scale XP came when – particularly once the pandemic hit – we identified a huge demand among the small business community for an easy-to-use tool that can support them on their growth journey. We wanted to give them an easier way to oversee their business performance, holistically, so that they can thrive. I’m delighted by the huge interest and support from the VC community and female founder networks like Angel Academe to help us realise this mission. It’s fantastic to have Alex on the Advisory Board to help us scale the business quickly.”
I think Alex’s quote ought to mention that the round attracted strong investment groups as they all saw how the product could directly benefit each of their portfolio companies.
Alex Hirsch, lead investor and ScaleXP Director, says:
“The idea behind ScaleXP is one of those ‘why hasn’t this been done before’ ideas. It hones-in on the problem that many small businesses face with having multiple points of accessing data and provides a single point to better inform their growth plans. It’s a compelling offer which is why both Angel Academe and Cambridge Angels have invested and I’m exceptionally proud to be on the board.”
The ScaleXP platform brings the next generation of SaaS real time business analytic tools to the high growth start up sector. Executive and senior management can now access data from across their finance and sales systems in a single point. Through a single interface, historical performance is assessed in a wider context of externally benchmarked KPIs, and sales pipeline issues and opportunities are brought into sharp relief. In turn, this means that insights and trends can be shared with the team, the board or any other stakeholders. Days, even weeks of information production are eradicated, and decisions are always informed.
Female-founded fintechs accounted for 17% of the UK’s total fintech venture capital (VC) investment over 2020, up 6% from 2019. The UK’s fintech scene raised $4.1 billion in VC funding last year which means female founders landed more than $697 million of this.*
Notes to Editors
*According to Innovative finance Report 2021 as cited in Fintech Futures https://www.fintechfutures.com/2021/01/vc-investment-for-uks-female-fintech-founders-up-6-in-2020/
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About SCALEXP investors
Cambridge Angels is a group of more than 60 high-net worth investors who have proven experience as successful entrepreneurs in technology, internet, software, hardware, tools and technologies supporting healthcare and digital healthcare. Members invest in and mentor high quality start-up and early-stage companies in these sectors in Cambridge, London, Oxford and throughout the UK. Our Members have been responsible for a large number of the “Cambridge Phenomenon” success stories over recent years. Therefore, in addition to providing funding for early-stage companies, Cambridge Angels also offer start-ups the considerable benefit of a wide range of expertise, contacts and directly relevant experience in establishing and growing entrepreneurial businesses successfully. cambridgeangels.com
Angel Academe is a fast-growing and award-winning angel investor network. They help female founders who can already demonstrate some commercial success with their technology business access a unique pool of engaged, mainly female investors. Members are successful entrepreneurs and senior leaders who understand that diverse teams build better businesses and want to invest as part of a high caliber, experienced and collaborative network. The 35 businesses they’ve backed since 2014 operate in enterprise software, fin tech, health tech, ed tech, clean tech and consumer tech. Collectively they’ve raised over £60m from angels and institutions, generated £millions in revenue and created hundreds of high value jobs. For more information, [email protected]
ScaleXP is a recent participant in Founders Factory startup accelerator, which brings together capital, expert operational support, and the scale of world-class corporate partners in a bespoke programme that supports the needs of a business.