SatNav App developer secures £1.3m in funding led by B&Y
An independent satellite navigation developer supplying applications globally. The business has achieved strong organic growth without prior marketing expenditure.
B&Y has raised £1.3m in new funding for its satellite navigation application client, bringing total capital secured to £850k towards an ultimate target of £2m. The fresh injection of capital will support the international expansion and marketing rollout of the company's latest application version.
The business has previously scaled its user base to 24m installations through organic growth and maintains high ratings across consumer review platforms. Advisors continue to manage the ongoing capital raise to support further market penetration.
Investor perspective
"We have seen a great deal of interest from investors when they hear this story which isn’t surprising – our client is the last independent company of its size in this niche sector. The future prospects are extremely exciting and we continue to support and advise our client as we raise further funding for marketing and expansion."
John Cowper
Associate Director, B&Y
Use of funds
- 01Invest in sales and marketing
- 02Expand into international markets
Categories
About the company
SatNav App client
The company develops and distributes satellite navigation applications internationally.