Powered Now has raised £575k on Crowdcube to develop its administration software for tradesmen.
The second crowdfunding campaign surpassed its initial target of £350k with backing from 353 investors.
Share allotment filed at Companies House
Award winning mobile application developer that provides business administration software for small trade businesses.
Powered Now has successfully closed its second equity crowdfunding campaign on Crowdcube, securing £574.8k from 353 investors. The total exceeded the initial target of £350k by 64% and resulted in a 16.5% equity stake being distributed.
The freshly secured capital will be directed towards raising awareness of the business administration application amongst tradesmen and furthering the development of the software. The platform operates on mobile devices and tablets, allowing small trade businesses such as builders and electricians to streamline operations.
This round also helped the Crowdcube platform cross the £100m investment milestone. Individual investments ranged from £10 up to a top single contribution of £50k.
From the founder
"Once again the crowd has shown huge faith and enthusiasm in getting behind our business to help us grow. And it’s not just about the money, we have seen increasing numbers of people with strong trade backgrounds invest. These provide an invaluable source of ideas and advice for the business."
Benjamin Dyer
CEO at Powered Now
Investor perspective
"I have made a substantial investment in Powered Now. That’s because I believe that there is a massive market and a clear opportunity to help trades businesses simplify their administration using new technology. The Powered Now management team has the right blend of experience, vision and entrepreneurial spirit to capitalise on this market."
Julian Cater
Investor, Julian Cater
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
Investors
Categories
About the company
Powered Now
Powered Now provides administrative software to help tradesmen eliminate paperwork and speed up payments.