Twine secures £263k seed follow-on investment led by GC Angels to expand its teams
The funding round was led by GC Angels alongside the Greater Manchester Combined Authority and private angels to support team expansion.
Twine operates a platform that connects companies with vetted freelance talent drawn from a global network. Based in Manchester, the firm helps businesses source reliable independent professionals for project work.
Twine has secured £263k in a seed follow-on funding round led by GC Angels. The capital injection also drew participation from the Greater Manchester Combined Authority and private business angels from across the north of England, lifting the company's total funding to £1.2m.
The Manchester-based platform, which has experienced a 45% increase in user activity during the coronavirus pandemic, will direct the proceeds towards expanding its development, sales and marketing teams to sustain its recent growth.
GC Angels supported the raise by introducing founder Stuart Logan to various angel investors and facilitating pitches earlier in the year. The investment arrives as Twine participates in the Creative Scale-Up Programme delivered by the GC Business Growth Hub.
From the founder
"We founded Twine with a vision that, by mid-2030, 30 per cent of jobs would be automatable due to AI and machine learning. As a result, we also predicted that companies would shift more of their budgets to less automatable roles in research, creativity, strategy, development and marketing. To fill this skills gap, more of the workforce would freelance because it enables flexibility and a wider talent pool that is not geographically constrained."
Stuart Logan
Founder and CEO at Twine
Investor perspective
"Twine has incredible potential, and we are looking forward to watching it grow as more businesses turn to quality freelancers. We are particularly pleased that the investment comes during the Creative Scale-Up Programme, delivered by our sister company GC Business Growth Hub, which we support by encouraging investment into creative businesses like Twine."
Jess Jackson
Head of Investment, GC Angels
Use of funds
- 01Continue product development
- 02Invest in sales and marketing