Our client, a growing healthtech business, was referred to us to raise a working capital bridge in order to accelerate sales growth prior to a Series A round.
The Background Story
The company is the UK’s leader in delivering predictive analytics to the NHS and Pharma industry. While planning a £10m Series A funding round, the Board identified the need for £300k of investment to accelerate recruitment of key sales and business development roles needed in the current Covid-19 environment.
The main funder to date, an EIS fund, was firefighting with its leisure and hospitality portfolio, and agreed to invite new HNW investors into the company for this bridging round. We were approached to help with this raise, with an emphasis on fast results needed.
Investment and Outcome
We immediately approached our large network of HNW investors and family offices. Despite the current economic climate, we were able to arrange online meetings with a handful of key, targeted investors, the majority with vast knowledge and expertise in the sector. Two HNWs proceeded to make an investment, both completing within four weeks of receiving our approach.
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