CloudTrade secures £2m from Calculus Capital to accelerate international expansion
Calculus Capital backed the e-invoicing vendor in its first investment round.
CloudTrade provides cloud based electronic invoicing, order management and complex data capture services. The company connects organisations with their trading partners to enable paperless digital transactions.
CloudTrade has secured £2m in its first investment round from Calculus Capital. The funding will be used to accelerate international expansion, increase team headcount and further research and development efforts into complex data extraction.
Founded in 2010, the company operates an e-document network that processes millions of transactions annually. The fresh capital arrives as the business experiences strong global growth and rising demand for its automated document processing technology across multiple sectors.
From the founder
"Transaction volumes are the key to growing our business and the fact that we have doubled these volumes over the last couple of years demonstrates our strong business growth. As today’s investment shows, 2017-18 has been a year of solidifying the business, at the same time as expanding and futureproofing it."
Richard Manson
Commercial Director at CloudTrade
Investor perspective
"Our investment will help CloudTrade to strengthen their global sales and support teams, expanding their platform to cover additional languages and bolstering their presence in the European and US markets. We believe this is an exciting, second phase in the development of a ‘Little British Battler’ with strong global growth potential."
Richard Moore
Co-head of Investments, Calculus Capital
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Fund research and development
Investors
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About the company
CloudTrade
CloudTrade delivers cloud based electronic invoicing and document exchange services.