Private investor Caroline Freeman has backed the Yorkshire gifting platform in a deal valuing the business at £200k.
"If anyone is going to make an innovative tech start up business a success, it’s Melissa. She’s the embodiment of a true entrepreneur, full of passion and drive. Kidcrowd is an innovative product which is disrupting a traditional market in a really positive way for the good of our future generations as well as the planet, and I believe will become a serious player within the gifting and ecommerce markets. Not only is Kidcrowd a product that reduces global warming and wastage, it teaches our children about the value of money which should make for a whole new generation of entrepreneurs."
The pre-seed round features backing from high-profile angel investors including Taavet Hinrikus and Greg Marsh.
"COVID19 has only made the need for Flown even greater. People working from home sometimes need to escape to find inspiration and fewer distractions. Companies shifting to remote work still need places for their team to regularly collaborate or bond. And never before has our economy been more open-minded and experimental with new ways of working and supporting the needs of their employees."
The pre-seed round was led by Move Ventures to support product development and regulatory approval.
"Many consumers borrow without fully understanding their options or implications of their borrowing. This is further compounded with poor repayment habits. As a result, large numbers of consumers are in the dark about the true cost of their borrowing, paying more in interest and fees than necessary and carrying debt for longer. ilumoni is changing that by shining a light on how we borrow,"
The Sunderland-based software developer has raised six figures from NEL Fund Managers to expand its client base and drive product development.
"In normal times, we spend a lot of time travelling round the country to see clients, but when this no longer became possible due to the pandemic, we’ve had the time to review our strategic development needs and focus on where we want the business to go."