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Retail tech firm with unicorn aspirations to boost Series A with Seedrs crowdfund

Veeqo, the software startup that helps online retailers sell across multiple online channels, has launched its Series A fundraising round today and will give crowd investors the chance to participate through a crowdfunding campaign on Seedrs.

The Swansea-headquartered business, which was founded in 2013 by Jura Watches entrepreneur Matt Warren, will also be backed in the round by New Look founder Tom Singh and business angel Daniel McPherson.

Veeqo has already raised £1.4m on London-based Seedrs platform to date following six previous crowdfunding campaigns in the last three years.

The likes of Brompton Bikes and online games retailer Jacques of London already use the Welsh startup’s cloud-based platform to manage and analyse their items across eBay, Amazon and other ecommerce sites.

Founder and Chief Executive, Warren commented: “This is a really exciting time for us at Veeqo. We’re working hard to create a global $1 billion company to trade sell or IPO.

“We’ve been able to build the best possible platform for ecommerce retailers in the world from our home in South Wales, but now it’s time to take the business to the next level.

“Veeqo is a simple but powerful solution managing a retailer’s entire operation from one application.

“Our competitors are only able to handle one or two elements of a retail business whilst Veeqo can do everything. Investment from the round will be used to further grow the team and improve our software, with 120 worldwide hires planned over the next three years.”

Veeqo, which helped retailers shift £1.3m worth of goods on Black Friday alone, now boasts a 30-strong team and has aspirations to enter the American market soon.

In light of the firm’s 508% revenue growth in the last 12 months, New Look Founder Tom Singh said: “I have been an investor in Veeqo since its inception in 2014.

“They have delivered phenomenal growth over the past two years and they have a very strong business. I see Veeqo aiming for a billion pounds exit in a few years.”

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