Veeqo raises £700k with Seedrs

VeeqoVeeqo, the Swansea based online inventory management software provider has raised over £693,000.

The company was originally looking to raise an investment of /£250k through Seedrs crowd funding platform, however due to large demand from Investors, the investment round overfunded to £693,000, with Daniel McPherson(Launcha) & Tom Singh (New Look Founder) finalising the round with £300,000.

Veeqo was launched in June 2014 by veteran Ecommerce entrepreneur Matt Warren, who has 12 years experience running ecommerce companies with a combined turnover of £40m.

Matt started Veeqo because he was frustrated with the amount of time spent by team members updating stock from Amazon to eBay, and overselling on online channels because there was no central system to manage stock levels across various sales channels. He found most of the products on the market did not do what he wanted, therefore decided to build a solution which met his needs, and was also simple and easy to use.

Since launch the company has grown 25% month on month. In 2014 the company had a team of 15, and Veeqo has now hired 10 new team members to accelerate growth.

With this new source of funding, Veeqo aims to expand across the world, grow its customer base and release even more amazing features customers love.

Veeqo also recently pitched at 10 downing street as part of a group of high growth startups selected across the UK for the Pitch at Number 10 event.