ScaleXP announces seed funding round
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.”
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 $4.1bn in VC funding last year which means female founders landed more than $697m of this.
