The Sheffield-based edtech platform raised the capital from Mercia funds to enhance its technology and grow overseas.
"Online learning now plays a key role in education but nothing can replace the benefits of one to one tuition. Tutorful offers the best of both worlds – it offers students easy access to some of the best teachers in the UK while leveraging the power of technology to make learning more fun and engaging. The platform has potential for use worldwide and this latest investment will help us to expand into other overseas markets."
The Series A round was led by Force Over Mass and included debt financing from Atalaya Capital Management.
"Koyo launched at the start of the global pandemic and has proven that innovative use of open banking data results in better risk decisioning and ultimately has enabled us to grow the business during one of the toughest economic times the UK has faced. I’m proud to have continued to give many people in the UK access to competitively priced credit, during a time where most traditional lenders were quick to scale back their lending."
The Series A round was led by OTB Ventures and will support international expansion and platform development.
"We are thrilled to have raised our latest level of funding and partnering with great investors as we embark on our exciting next stage of growth. The investment will be put towards improving and expanding our services, both in terms of manufacturing capabilities and geography. Since starting operations in Manchester, Fractory has played a vital role in helping to digitise the UK’s metalworks industry, which we believe will be essential for its survival. We can’t wait to expand our platform to help more manufacturers and markets across the globe."
Experian participates in a £10m Series A round intended to fund credit protection tools for small businesses.
"Managing credit risk is central to lender activity but SME owners typically overlook it. This restricts their growth and jeopardises their survival. While the digitalisation of financial services was on course to deliver SMEs with efficient access to new capital providers, the pandemic highlighted the fragility of their supply chains. As they emerge, their ability to recover and protect capital, while boosting their appeal to the lending community will be crucial. Capital Reports will make an unprecedented and timely contribution to SMEs’ ability to survive, and grow, in the UK within the coming months, in South Africa in Q4 with more countries to follow."
The investment round was led by Ventura Capital and will accelerate international deployment of the company's diagnostic platform.
"The game-changing nature of our innovation has created an extraordinary commercial opportunity within next-generation medical diagnostics, and the global investor community is very excited by the transformative potential of a rapid, gold-standard RT-PCR testing platform that can screen for multiple viruses simultaneously. We are delighted to have completed this successful fund-raise which will allow us to dramatically speed our plans for worldwide availability, particularly in the US, Japan, Europe, and other key territories where interest is extremely high."
