Welcome to the latest FS Fives – FutureScot’s lunchtime round-up of Scottish digital news.
First up, we bring you news of two young entrepreneurs who look on course to secure £1m in a funding round with venture capitalists.
Family friends Steve Pearce and Sam Coley, founders of ticketing aggregator TickX, are locked in negotiations with two VCs following a successful pitch at last month’s EIE investor showcase in Edinburgh.
“It’s been a journey – we made some really good contacts at the EIE – and we’re potentially on the verge of a deal with a couple of VCs who saw us pitch.”
The company has already secured £175,000 in investment from the likes of the Ministry of Sound, who are the lead investor. They have also attracted interest from Edinburgh angel investor Archangels.
Second, we bring you news of the incredible story of Leah Hutcheon, the CEO of Edinburgh-based online bookings platform Appointedd.
In a kind of ‘my big break’ tale, Leah explains how a chance meeting at the Interop conference in Las Vegas led to a partnership with one of Australia’s biggest banks.
“Mainly populated by large banks and uber-tech, we whizzed around the carpeted aisles, in search of the one company we had come to meet; Maestrano. Billed as SaaS 2.0, Maestrano have an innovative platform that connects apps so that they talk to each other,” said Hutcheon.
“From accounting software to HR apps, the products seamlessly share data to ensure that any business using their platform is able to streamline processes easily and efficiently.
“We quickly realised the impact that integrating into the Maestrano platform could have for Appointedd.”
The company went on to do a deal with the firm, which led to a partnership with National Australia Bank – giving Appointedd access to 700,000 customers.
Freeagent, the accounting software firm, raised £1.2m in a crowdfunding campaign, according to a new report released by the Glasgow Chamber of Commerce.
The Edinburgh-based company was the largest campaign among 1,263 successful initiatives to raise money using online fundraising tools, according to the ‘Scottish Crowdfunding Report 2016’.
The report showed that Scottish businesses in total raised £27,064,371 from crowdfunding campaigns run over a 12-month period.
The report – commissioned by Glasgow Chamber, in partnership with Harper Macleod, LendingCrowd and Santander – was produced by twintangibles, a leading crowdfunding consultancy as a follow up to the ‘Crowdfunding – A Scottish Perspective’ Report, published in 2013. Its key objectives are to examine the development of Crowdfunding in Scotland – the overarching scope and nature of crowdfunding, as well as key characteristics and the awareness of the method in Scotland.
‘For any normal public company, the sudden exodus of a CEO in favour of a former chief would be a logic-defying or even dystopian turn of events. But Twitter is not a normal public company,’ reports Vanity Fair. Jack Dorsey, Twitter’s founder, may have made a rather extraordinary return to the social media giant, but will his presence alone be enough to save a company which has, according to the report, been run in a “near-constant state of chaos” since its inception?
And finally…first it was separate lanes for pedestrians too absorbed in their phones to avoid bumping into each other, now it’s traffic lights in the ground so that they know when it’s safe to cross without looking up.