The oversubscribed round was led by Jonathan Milner and included a £1m contribution from Unicorn AIM VCT.
"We are building the most successful and efficient incremental distribution platform for companies to raise equity investment at all stages of their equity journey, from idea to IPO. To have such strong demand from both retail and institutional investors is the strongest vote of confidence we could have regarding our expansion plans within crowdfunding and equity capital markets. I am hugely excited about the times ahead of SyndicateRoom and its potential to become a billion dollar business."
The funding follows mentorship and guidance from Dorset Business Angels.
"Wriggle gave an excellent presentation and generated interest from approximately 7 investors at the meeting who were keen to find out more. We then met the very capable team at Wriggle, looked at their product and business plan in greater depth, reviewing forecasts and other financial information and data. I did this along with fellow investors, David Ford from Bright Blue Day and DBA guest Anthony Storey, Director of Silicon South."
The fresh capital follows £1.5m in previous investment secured since the company launched in 2014.
"We know how much people research online nowadays before committing to a purchase, which has resulted in the huge growth of comparison sites in sectors such as insurance, travel and grocery retailing. It struck me that there were no such sites for consumers to compare trusted alternatives for vehicle repairs, despite the fact that research shows that car owners are often uncertain about where to find quality services that can still offer great value."
Mercia Fund Management backed the academic research platform in its first external funding round.
"This investment marks the next chapter in our business’s history, and heralds not only our expansion, but also the development of new and current core services for our university and company clients. We’re looking to maintain our traction, and are excited to excel expectations as we take our company overseas with our new partners at MFM."
The investment round was led by Atomico with participation from JamJar Investments and several angel backers.
"Farmdrop is on mission to fix the food chain by making it easy to buy the best food from the best local producers. We believe everyone deserves a more delicious world and this investment will help us continue to improve the product and spread the word about the Farmdrop revolution."
