Hatchery firm hits target
App developer raises £110,000 in just three days
Find a Player’s system for teaming up sports people with local games who are short of players – described as a “Tinder for sport” – will use the funding to support an app.
It proved highly popular when it was promoted in the Central Belt earlier this year, but the firm needs to invest in its app if it is to cope with wider success.
Founder Jim Law (pictured) took to crowdfunding platform Seedrs after hearing that tennis ace Andy Murray invests on the site [Murray has today announced his first investments through Seedrs].
Mr Law had already lined up a number of backers, but was amazed when his target was reached by Sunday evening, having launched the campaign only last Friday.
He said: “I was pretty hopeful that we would raise the money we needed, but to do so in a weekend is amazing. It’s very promising that so many people want to back us.”
Find a Player launched the current version of its app two years ago. Since then it has joined Entrepreneurial Spark’s accelerator programme and moved into the Glasgow hatchery.
Mentors at the hatchery introduced Mr Law to a suitable app developer, who advised that the software would have to be improved before it could sustain nationwide demand.
A social media campaign rapidly attracted more than 3,000 users in Scotland, showing the potential of his idea.
“The last few months have been quite frustrating, because the Facebook campaign was gaining momentum and the app was really starting to catch on,” said Mr Law. “We’ve had to hold back, but now a new version will be ready within a couple of months and we also have money for a bigger marketing campaign.”
It is the second successful fundraising in just a few days at the Glasgow hatchery, after orthopaedic biotechnology company Taragenyx announced that it had closed a $1 million equity investment from existing backers Kelvin Capital, Lancaster Capital and the Scottish Investment Bank.
Entrepreneurial Spark founder and chief executive Jim Duffy said: “There is a great sense of momentum in our hatcheries at the moment, with these two wonderful success stories offering an inspiring example to the record new batch of chiclets which have just joined us.
“Working with our partners at Royal Bank of Scotland and KPMG, we like to make businesses investment ready, even if they don’t actually have to raise capital, as it is part of a disciplined approach to Entrepreneuring.”