SatNav App raises £1.3m from angel investors for marketing and expansion.
The funding was secured via Beer & Young to support international growth for the navigation app.
An independent satellite navigation application provider operating in the digital mapping sector.
Beer & Young has helped an independent satellite navigation app developer secure £1.3m in new funding from its network of angel investors. The capital will support marketing efforts and international expansion for the company's latest application version.
The firm has previously raised £850k for working capital through the advisory relationship, aiming for a total target of £2m. The business has grown its user base to 24 million installations globally on organic reach alone without prior marketing expenditure.
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, Beer & Young
Use of funds
- 01Invest in sales and marketing
- 02Expand into international markets
Categories
About the company
SatNav App
A satellite navigation application provider with millions of global installations.