Stamp Free secures £600k in pre-seed funding led by R42 Group and Cambridge Angels
The financing values the digital postage company at £4m and will support sales and product development.
Stamp Free develops a digital postage technology that allows users to send parcels and letters via a smartphone application without traditional stamps or labels. The company uses machine handwriting recognition to validate mail items and reduce carrier costs.
Stamp Free has secured £600k in pre-seed funding to accelerate commercial traction and product development. The oversubscribed round was led by Silicon Valley based R42 Group and Cambridge Angels, alongside international angel investors from the UK, US and Australia.
The capital injection follows a period of significant operational progress for the company, which has seen its technology trialled by postal carriers, retailers and locker providers globally. The latest financing values the business at £4m.
The proceeds will be deployed primarily towards expanding sales and marketing efforts to drive commercial adoption, alongside ongoing product development as the company prepares for a consumer launch later this year.
Use of funds
- 01Invest in sales and marketing
- 02Continue product development
Investors
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About the company
Stamp Free
Digital postage company offering a phone based alternative to traditional stamps and mailing labels.