London-based ScaleXP – the automated analytics platform that helps small businesses consolidate their financial and sales data – has recently announced that it has raised £600,000 in a seed funding round.
ScaleXP is founded by female CEO Suezann Holmes, and is backed by female angel investor network, Angel Academe, as well as Cambridge Angels, Syndicate Room and Founders Factory. Alex Hirsch FCA, who led the investment series, will take a position on the ScaleXP advisory board.
The funding will help the company develop its platform and services, while also accelerating customer acquisition. It comes at a time where businesses are under enormous pressure to bounce back from the pandemic and resume their ambitious growth plans.
Suezann Holmes, Founder Scale XP, says: “The idea for Scale XP came when – particularly once the pandemic hit – we identified a huge demand among the small business community for an easy-to-use tool that can support them on their growth journey. We wanted to give them an easier way to oversee their business performance, holistically, so that they can thrive. I’m delighted by the huge interest and support from the VC community and female founder networks like Angel Academe to help us realise this mission. It’s fantastic to have Alex on the Advisory Board to help us scale the business quickly.”
According to Innovative finance Report 2021 as cited in Fintech Futures, female-founded fintechs accounted for 17% of the UK’s total fintech venture capital (VC) investment over 2020, up 6% from 2019. The UK’s fintech scene raised $4.1 billion in VC funding last year which means female founders landed more than $697 million of this.
Holmes has previously held senior positions at MOO and Virgin Media. The new platform will give small businesses the tools to consolidate disparate financial and sales data, prepare for fundraising and make more informed decisions about their future growth plans.
Alex Hirsch, lead investor and ScaleXP Director, says: “The idea behind ScaleXP is one of those ‘why hasn’t this been done before’ ideas. It hones-in on the problem that many small businesses face with having multiple points of accessing data and provides a single point to better inform their growth plans. It’s a compelling offer which is why both Angel Academe and Cambridge Angels have invested and I’m exceptionally proud to be on the board.”
Effective solution for better data representation
The ScaleXP platform provides the next generation of SaaS-based, real-time business analytic tools to the high growth startup sector. It allows executive and senior management to access data from their finance and sales systems in a single point.
The historical performance assessment in a wider context of externally benchmarked KPIs, and sales pipeline issues and opportunities simplified now with ScaleXP’s single interface. It means that data insights and trends can be shared with the team, the board or any other stakeholders. It reduces the days or even weeks of information production time and helps businesses in making informed decisions quickly.
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