Dating site secures six figure investment through EIS structured fund

DoingSomething to use latest funding to finance national expansion

London-based dating site DoingSomething has successfully raised a six figure investment through the Highgate EIS Tech Fund. Launched in 2011, DoingSomething strives to ‘take the awkward out of dating’, by promoting local interesting things to do on a date, such as ping pong or bike riding. Issued under the Enterprise Investment Scheme (EIS), the Highgate Tech Fund is able to offer significant tax benefits to private individuals who choose to invest in small, higher-risk companies. Funding for DoingSomething came from the third such fund, following the closing of the second Highgate Tech Fund in April 2012. The dating site hopes to use the investment to fund a roll-out programme across major UK cities, set to launch in early 2013. CEO of DoingSomething Matt Janes is pleased with the deal, which sees Highgate taking an active role in the dating site via a board seat. He commented: “We are already cash generative and growing ahead of plans but wanted additional investment to support the roll-out across the rest of the UK’s major cities. “We like what Highgate has to offer in providing expertise to our team as well as cash.”

 

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