MatchPint #CODEInvested Success Story
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An update from one of our previous small business owners after they raised £1M.
Last summer we had the pleasure of working with MatchPint, who were aiming to raise £1,000,000 to help grow and expand their business. Their equity raise succeeded in raising over their target via several channels including Code Investing, and we wanted to find out how the business has progressed since then.
MatchPint is a platform which connects sports fans, pubs and brands. At the heart of MatchPint is a B2B product, which enables pubs televising sport to organise, market, optimise and measure their sports offering, with the aim of increasing footfall & revenue.
Using this data, MatchPint’s mobile app allows sports fans to find the nearest pub showing their chosen match and invite their friends. With this network of both venues and consumers in place, brands are able to run powerful and measurable digital campaigns, which includes what MatchPint believe to be an innovative vouchering and promotional platform.
We caught up with CEO and Founder Leo MacLehose to find out how the business is doing since raising the growth capital they needed via our network of smart investors last summer.
Some of the funds raised through our platform allowed them to establish a new in-house sales system that’s already delivered gross profit in Year 1 across Free Trials and up front subscriptions. They’ve also built financial software that has cut direct pub costs, sustained resubscription rates, and made Free Trials financially viable.
We asked Leo for his highlights of MatchPint’s performance over the past 12 months which he shared with us below:
“MatchPint has come on leaps and bounds since our £1M investment round, we’ve seen 3 figure growth across the board in almost all of our KPIs. We’ve gained some brilliant clients in both the pub and drinks brands market.
We also have some really exciting projects in the pipeline including some dashboard and analytics which are likely to disrupt how the success of sport in the On Trade is measured.”
We also asked Leo what he felt was one of the biggest benefits of growth capital through alternative financing was: He replied:
“Money is important in fund-raises, but even more important is the expertise and value add that can be unlocked through new shareholders.”
All in all it sounds like it’s been a pretty great year for MatchPint and they look to be going from strength to strength since their raise with Code Investing.
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The CODE Investing UK Investor report examines the growing trend in lenders supporting loans as a preferred way of financing small businesses.
The latest banking report highlights that around half of SMEs are aware of the alternative finance options
Banks may be reluctant to lend to SMEs until the “Brexit fog” has cleared, but that’s not stopping business lending from alternative sources.
Investing in early stage businesses involves risks, including illiquidity, lack of dividends, loss of your investment and dilution and it should be done only as part of a diversified portfolio. CODE Investing Limited is targeted exclusively at investors who are sufficiently sophisticated, or who are judged by CODE Investing Limited otherwise to be appropriate, to understand these risks and make their own investment decisions. You will only be able to invest with CODE Investing Limited once you are registered as sufficiently sophisticated or otherwise appropriate for these types of investment. Investors via CODE investing are not protected from loss by the Financial Services Compensation Scheme against the Company’s default or for any losses they may suffer. Please read the full risk warning for more information. This page has been approved as a financial promotion by CODE Investing Limited, which is authorised and regulated by the Financial Conduct Authority. Investments can only be made on the basis of information provided in the pitches by the companies concerned. CODE Investing Limited takes no responsibility for this information or for any recommendation or opinions provided by the companies.
Tax Wrappers note: Innovative Finance ISA (IFSA), Self Invested Personal Pension (SIPP) and Small Self Administered Scheme (SSAS) : eligibility depends on an individual’s circumstances and is subject to change in the future.