Envestors closes MoBank funding
30 August 2012
Braveheart Investment Group plc
Envestors closes equity funding round for MoBank
Braveheart Investment Group plc ('Braveheart', the 'Group' or the 'Company') (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations, announces that Envestors Limited, its wholly owned subsidiary, has closed an equity fundraising for MoBank, the fast-growing mobile commerce company.
Envestors, an award-winning private investor network helping source dynamic companies seeking growth capital, closed a £626,000 fundraising for MoBank, comprising £470,000 from the Business Angel Co Investment Fund, led by Helen Fowler, a private investor introduced by Envestors, and £156,000 from other members of the Envestors network. The amount is part of a total £2.25 million raised by MoBank to invest in recruitment, IT infrastructure and partner management programmes.
MoBank launched its MoPowered mCommerce platform in March 2012 to enable all retailers, particularly SMEs, to use mCommerce rapidly and affordably. Experts predict the mobile commerce channel will be worth $1 trillion by 2015. MoBank is one of the few mobile technology providers selected as a chosen vendor on the Google GetMo scheme, an initiative aimed at getting m-sites integrated into more UK businesses.
The £50m Business Angel Co Investment Fund was created with a grant from the Regional Growth Fund and invests alongside business angel syndicates from across England. Many co-investing angels take active roles to support and mentor businesses, providing valuable industry and financial knowledge.
Oliver Woolley, Founder Director of Envestors, said: "It's great to be closely involved with what we are sure will be a major player in the fast-growing mobile commerce service provider market."
Dominic Keen, CEO of MoBank, said: "While most large retailers already have a mobile presence, our research shows that 76% of smaller retailers trading online don't have a mobile site, whilst 89% believe that mobile commerce is important. Retailers of all sizes should make the most of the mobile channel and we are helping them achieve that."
Further information:
Braveheart Investment Group plc
|
Geoffrey Thomson, Chief Executive |
Tel: 01738 587555 |
Envestors Limited
|
Oliver Woolley, Founder Director |
Tel: 020 7240 0202 |
Merchant Securities Limited (Nominated Adviser and Broker to Braveheart)
|
Lindsay Mair Catherine Miles |
Tel: 020 7628 2200
|
MoBank
|
Dominic Keen, CEO |
Tel: +44 20 3468 8671
|
Media enquiries (for Braveheart):
Allerton Communications
|
Peter Curtain |
Tel: 020 3137 2500 |
Notes to Editors
Braveheart Investment Group plc
Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building tax efficient portfolios for business angels, high net worth individuals and family offices. Braveheart has a demonstrable track record in investing, an established client base and various funds under management. The Group has offices in Perth, London, Yorkshire and Jersey with franchise operations in Dubai and Manchester.
Following the 2010 acquisition of Envestors Limited, the London based specialist corporate finance advisory business, Braveheart offers a unique and comprehensive suite of tax efficient products to high net worth investors.
www.braveheartinvestmentgroup.co.uk
Envestors Limited
Envestors enables investors to source dynamic unquoted companies in need of growth capital. Comprising high net worth private investors, family offices, funds and venture capital sources, its network has helped over 65 companies raise in excess of £25 million, the majority of opportunities attracting taxation benefits under the Enterprise Investment Scheme (EIS).
Services to companies include intensive preparation for fundraising, initial due diligence and screening, facilitating corporate fundraisings through in-demand investor presentation events and face-to-face meetings with potential investors, and placing of non-executive talent.
Envestors was awarded the "Private Investor Network of the Year" at Investor Allstars in 2009 and again in 2011 and is a wholly-owned subsidiary of Braveheart Investment Group plc.
The MoBank Group
The MoBank Group is a specialist in creating transactional systems on mobile, connecting retailers of all sizes with their consumers via mobile every day. MoPowered, its mCommerce platform, supports retailers at every stage of m-site integration from site building, inventory cataloguing and marketing through to mobile checkout.
MoPowered provides a specialised, accessible and cost effective solution to help all retailers to take advantage of the growth opportunities offered by mCommerce. MoPowered enables retailers to quickly and seamlessly integrate a mobile channel strategy. Bridging the gap between the payments and mobile world, The MoBank Group is PCI-DSS compliant (Payment Card Industry Data Security Standard) and fully understands the checkout and payment chain.
This information is provided by RNS
Latest directors dealings
- 5 hours ago ASOS
- 6 hours ago MJ Gleeson
- 6 hours ago Rolls-Royce Holdings
- 6 hours ago Crest Nicholson Holdings
- 7 hours ago Naked Wines