The pre-seed funding comes from venture capital firm Haatch to support platform development.
"We are incredibly excited about the future of BILRS and the opportunity this partnership with Haatch represents. This investment will empower us to enhance our platform’s capabilities, better serve our customers, and continue our mission of enabling purposeful remittance. We are grateful for the confidence that Haatch has shown in our vision, and we look forward to the remarkable progress we will achieve together."
The pre-seed round was led by Haatch alongside angel investors to fund product enhancement and customer growth.
"The market for application modernisation is primed for a fresh approach, and we believe AppFactor is poised to deliver just that. We are excited to be on the growth journey with AppFactor who has the potential to be a game-changing platform."
The pre-series A financing was co-led by Concentric, Superseed and Puma Private Equity to support international expansion and team scaling.
"Out of 10m factories worldwide, 94 per cent are looking for digital solutions that can connect multiple factories globally, standardise processes and improve efficiency. Thingtrax goes beyond data collection and provides leaders with in-depth analysis and actionable insights for improved efficiency and behaviour change across the workforce. We give manufacturers the tools and knowledge that they need to accelerate progress on their digitisation journey and the attainment of operational excellence."
The platform raised capital from nearly 250 angel investors and family offices to support its collaborative investment infrastructure.
"I think we are missing a huge opportunity by leaving the power to decide what companies get built in the hands of so few people. It means you end up building stuff that just isn’t aligned with our needs. Over the next 20 years or so, technology is going to revolutionise energy, healthcare, education, finance, food production…basically any industry you can think of. It’s a huge opportunity, and there’s a lot to be excited about!"
The oversubscribed round was led by Playfair Capital with backing from multiple institutional investors and angel backers.
"James and Hector have been really engaged since I appeared on the podcast and it made sense to invite them into what was a highly competitive round due to their network, experience and willingness to help and support."
