Expandly, a Milton Keynes-based company whose e-commerce software application permits retailers to sell throughout numerous channels worldwide, has actually closed a ₤ 580,000 funding round led by Mercia Fund Managers.The financial investment, which will produce five brand-new jobs, consists of ₤ 250,000 from the MEIF Evidence of Principle & Early Stage Fund which is managed by Mercia for the& Midlands Engine Investment Fund, ₤ 250,000 from Mercia’s EIS Fund and the rest from angel investors.Expandly makes it more accessible for retailers to sell on various markets such as eBay, Amazon and Etsy by offering a central platform where they can manage all their item listings and inventory, and process and fulfil orders. < div data-overlay-animation=smile-none data-disable-animationwidth=768 data-exit-animation=cp-overlay-none > Save Cash & Time.
Join Our Newsletter For Free.. Event Invites. News. Videos. eMagazines. Analysis & Opinion. Unique Reports. Interviews All e-mails consist of an unsubscribe link. You might opt-out at any time.See our personal privacy policy. L-R: Lewis Stringer( MEIF), Jon Corbett(Barclays), Alan Wilson (Expandly), Sandy Reid(
Mercia Fund Managers), Tom Gray(Fraser Brown )and Malcolm Johnston (SEMLEP)The company was established in 2013 by Alan Wilson, an IT expert who had seen the frustrations faced by little firms trading on different online websites. The software was launched three years later and is now utilized by merchants worldwide. Expandly is chaired by the former CEO of Tesco Direct, Steve Robinson.Alan Wilson, CEO of Expandly, stated:” This investment is a substantial step in the Expandly journey for us, our investors and our consumers. We’ll be using the funds to establish the group, advance the item and accelerate our development. It’s an exciting time in the ecommerce market and we’re ready to capitalize.”
Expandly was just recently chosen by Microsoft for its program to support start-ups and the software will be sold by means of some Microsoft resellers. The financial investment will allow it to expand its sales and marketing group and establish new channel partners.Sandy Reid, Investment Manager with Mercia, stated:”Expandly’s management team have actually demonstrated early market traction by producing income from clients all over the world and are now seeking to grow business significantly. This early stage financial investment will enable them to establish its full capacity.”Lewis Stringer, MEIF Senior Relationship Supervisor at the British Service Bank, included:”Securing the right kind of finance at the right time is vital to innovative innovation services such as Expandly, enabling it to totally develop and scale-up by hiring brand-new staff. We’re exceptionally delighted to see MEIF funds flowing throughout the Midlands and would motivate other organisations looking for investment to call our fund managers.”Malcolm Johnston, Development Center Supervisor at SEMLEP, commented:”Expandly is another fantastic example of the ingenious companies
we have in Milton Keynes. Guaranteeing that successful entrepreneur like Alan, who have the aspirations to grow their service, can access suitable financing is a key motorist for SEMLEP and the Midlands Engine Investment Fund.”Tom Gray of Fraser Brown in Nottingham supplied legal guidance to Mercia.The Midlands Engine Mutual fund job is supported economically by the European Union using funding from the European Regional Advancement Fund( ERDF)as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Financial Investment Bank.
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