yboo secures £650k from Angelfish to fund growth strategy and product development
The Yorkshire technology firm has raised seed funding from Angelfish to accelerate product development and international expansion.
yboo is a Yorkshire based technology company that provides a mobile application designed to compare SIM only mobile deals based on consumer usage. The firm helps users switch to better tariffs while also supplying mobile networks with anonymised behavioural data.
Yorkshire mobile application firm yboo has secured £650k in seed investment from Angelfish to support its growth strategy over the coming year. The latest funding follows previous backing and forms part of ongoing negotiations for an expanded equity holding and debt facility.
The capital will be deployed to accelerate product development and prepare for domestic and international expansion. Alongside the financial injection, Angelfish non-executive director Richard Walker has joined the board at yboo to oversee financial planning, revenue projections and preparations for a potential public offering next year.
The company is also preparing to launch a business to business portal aimed at mobile operators, alongside discussions regarding potential international rollouts in Australia and the Middle East.
From the founder
"We are absolutely delighted to announce the investment yboo has received; we have some incredibly exciting developments, which includes our B2B portal that we will be rolling out at the end of July. This product has a strong future roadmap and we anticipate that it will have a huge impact on UK mobile operators and their propositions."
Martyn Gould
Founder at yboo
Investor perspective
"Angelfish is delighted to increase its holding in yboo and to be negotiating the potential injection of substantial funds to secure the rollout and expansion of the yboo model. In the last few months, since the initial funding, yboo has significantly advanced the technology behind the model and attract considerable trade interest within the price comparison sector."
Andrew Flitcroft
Finance Director, Angelfish
Use of funds
- 01Continue product development
- 02Expand into international markets