Invoice app Powered Now secures £575,000 in second Crowdcube campaign
Startups 100 listed company to invest in software development and marketing
Startups 100 company Powered Now, an administration app for tradespeople, has raised £574,770 in its second equity crowdfunding campaign on Crowdcube.
A total of 353 individuals took part in the round for a 16.5% share, helping the company exceed its £350,000 target by 64%, with a largest single investment of £50,000.
Founded by Benjamin Dyer and Chris Barling in 2012, Powered Now’s platform was built specifically to help individuals in the trade industry manage payments, scheduling, finance and documents.
The company intends to use the funds to further develop its software and to raise awareness of the app among tradespeople.
Dyer commented: “Once again the crowd has shown huge faith and enthusiasm in getting behind our business to help us grow. And it’s not just about the money, we have seen increasing numbers of people with strong trade backgrounds invest. These provide an invaluable source of ideas and advice for the business.”
Luke Lang, co-founder of Crowdcube, added: “Powered Now was our Start-up of the Year in 2014 and it’s great to see the crowd again supporting this team which is using cloud technology to disrupt the construction sector.
“The app can make a real difference to all tradesmen who struggle with their old pen and paper admin that eats into family life and reduces earning capability.”