Expandly expands with £580k investment
Post by Expandly on 10th October 2018
At Expandly we love practising what we preach, which is why we’re super happy to announce that we’ve secured further investment to help Expandly expand into the future.
Expandly has closed a £580,000 funding round, led by Mercia Fund Managers, which includes £250,000 from MEIF Proof of Concept & Early Stage Fund (managed by Mercia for the Midlands Engine Investment Fund), and £250,000 from Mercia’s EIS fund. The rest (for the mathematics among you) was received from angel investors.
Alan Wilson (our CEO) says:
“This investment is a huge step in the Expandly journey for us, our investors and our customers. We’ll be using the funds to develop the team, advance the product and accelerate our growth. It’s an exciting time in the ecommerce industry and we’re ready to take advantage.”
The investment will be spent growing the sales and marketing teams, as well as developing new channel partners – something that will benefit our customers and their customers alike.
Sandy Reid, Investment Manager with Mercia, said:
“Expandly’s management team have demonstrated early market traction by generating revenue from customers around the world and are now seeking to grow the business substantially. This early-stage investment will allow them to develop its full potential.”