Huddlebuy secures investment
Company looks to develop existing platform
Huddlebuy, the group buying site for small businesses, has raised £350,000 in angel funding to invest in building its existing small business community and enhance its technology platform.
Launched at the start of this year by Per Larsen from Apple, Chieu Cao from Microsoft and Saurav Chopra from Yahoo, Huddlebuy offers group buying discounts on a range of business services or products such as IT, legal or marketing services and IT equipment. The service is specifically aimed at small firms.
Huddlebuy already has around 1000 small businesses using the site, and expects interest in group buying to increase rapidly.
Investors that participated in the funding round include Alex Chesterman, co-founder of LoveFilm and Zoopla, and business angels Sherry Coutu, Sean Park and Udayan Goyal.
Chopra told Growing Business that Huddlebuy’s immediate business goals “are to build our small business community and continue securing exclusive deals for them.”
Huddlebuy plans to use part of the six figure investment into building a “highly scalable group buying platform for small businesses” with the remaining funding going into creating a strong team “that can handle a fast growing e-commerce environment and can secure the best deals for small businesses.”
However, in terms of long-term planning Chopra says “it is impossible to plan more than 12 months in advance with any accuracy.
“Our vision is to help small businesses save money and save time and with more than 4.5 million small businesses in the UK alone we have a mountain of opportunities to climb in the coming years.”