Veeqo’s latest Seedrs initiative is quickly nearing its £1 million funding target thanks to nearly 100 investors. The company announced it raised 93% of the funding goal 24 hours before the campaign’s public debut.
As previously reported, the company helps online retailers increase their profit by selling on multiple channels and by managing their inventory, orders, and shipping across a single, cloud-based platform. Veeqo has integrated with global marketplaces on Amazon, Shopify, and eBay, as well as leading logistic providers Royal Mail, DHL, and DPD. Veeqo first listed its Seed funding round on Seedrs back in 2013. The equity crowdfunding platform continued to support the young company throughout the past three years, and it previously had seven successful crowdfunding offers. Jeff Lynn, CEO and co-founder of Seedrs, recently shared:
“Veeqo is one of the great emergent tech businesses in South Wales, and it is fast becoming a true British success story. Matt and his team came to Seedrs in the very earliest days of the company, and I am so thrilled that we have the opportunity to be part of their journey. In my mind, Veeqo is a great example of why equity crowdfunding is instrumentally important to the future of the early stage investment and why sophisticated investors should seriously look to add this asset class to their broader investment portfolio.”
Founder and CEO of Veeqo, Matt Warren, also revealed:
“We’re working hard to create a global $1 billion company to trade sell or IPO. We’ve been able to build the best possible platform for e-commerce retailers in the world from our home in South Wales, but now it’s time to take the business to the next level.”
The latest offer on Seedrs is being anchored by investors Tom Singh, the founder of New Look, along with entrepreneur and business angel Daniel McPherson. The company stated this is likely its last funding round on Seedrs as it is looking to raise funds offline in 2017. Warren noted that the funds from the new offer will be used to grow the team (now at 30) and improve the software. Veeqo is also planning to hire an additional 120 worldwide employees over the next three years on their planned march to a billion pound valuation.
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