Spoonfed secures £250,000 investment to fund international expansion
US, Australia and Asia have shown interest in UK cloud-based catering management company
Catering software company Spoonfed has received a £250,000 investment from Equity Gap, co-funded by the Scottish Investment Bank.
Launched in 2013 by Willie Biggart and Murray McNicol to protect their catering business during the recession, Spoonfed is a cloud-based system for catering companies to order, plan production, plan routes and invoice in one integrated solution.
After successfully beating the recession the entrepreneurs sold the catering business to focus on developing their unique software. The company’s customer base currently includes high street bakery chains, independent sandwhich retailers, outside catering businesses as well as universities and colleges over several UK cities including London, Manchester, Birmingham, Edinburgh, Glasgow and Aberdeen.
Following interest from the US, Australia and Asia, the investment will be used to accelerate its expansion into international markets and create new jobs.
Spoonfed’s Biggart said: “Our strategy was to make sure our business had traction before we took it to angel groups like Equity Gap. Having bootstrapped the company with personal investment of nearly £500,000 from founders and sweat equity from suppliers, we were able to present a well-oiled and properly financed enterprise to investors, free from problems, and with a customer pipeline firmly in place”.
Jock Millican of Equity Gap commented: “It was refreshing to see a different approach being taken by a company seeking investment. It was clear the founders of Spoonfed were presenting a business that had already ironed out a lot of teething problems, that was confident, and in good shape financially”.