The Lancashire software firm has raised a £400k debt package comprising Rosebud backing and CBILS support to accelerate the growth of its Sentinel platform.
"After launching Sentinel, we quickly recognised that we needed financial support to build on its early success. We sought a partner that recognised our position in the market, offered suitable rates and could support us through the coronavirus pandemic."
Heartcore Capital led the pre-seed round, which included backing from various industry executives and angels.
"We know that people are actively looking for simpler, faster new ways to shop and we’ve seen it first hand: Weezy only just opened for business, and already we’ve had hundreds of signups without having publicised our launch. Those signups are more than doubling week on week. In the current climate it has become less viable, and even less appealing, for consumers to visit stores."
The community and behavioural change platform surpassed its target within 24 hours with backing from 512 investors.
"We are absolutely delighted to have reached our funding target and this investment will really allow us to expand our offering and support so many more people with our products."
The Series A round was led by Octopus Ventures with participation from Clocktower Technology Ventures, Speedinvest, Seedcamp and Finch Capital.
"We see a huge amount of potential in launching TaxScouts into Spain. Naturally, the weather and the wine were considered when picking the market, but having successfully built a solution for one of the trickiest tax systems in Europe, we are confident that we can deliver another great product for Spain’s complex tax structure. The market is double that of the UK, and this is the first step to us building a Pan-European tax service. We will build the go-to solution for anyone across Europe to easily file their tax return regardless of its complexity. This investment will enable us to quickly scale up a team to support our new Country Manager in Madrid, and launch other new products in the UK."
