Envestors secures ?450,000 eReceipts funding

RNS Number : 6699S

Braveheart Investment Group plc

24 November 2011

 



24 November 2011

Braveheart Investment Group plc

("Braveheart" or the "Group")

Envestors secures £450,000 eReceipts funding

Braveheart (AIM: BRH), the AIM-listed specialist in growth capital investments for business angels, high net worth individuals and family offices,  announces that Envestors Limited, its wholly owned subsidiary, has closed a £450,000 equity fundraising for the eReceipts.

eReceipts provides an electronic solution to the problem of managing, storing and retrieving receipts for proof of purchase and business expense purposes. Digital receipts are created and collected primarily from retailers' EPOS (electronic point of sale) systems, payment gateways and individuals' mobile devices. These receipts are seamlessly sent and stored in an individual's web account that can be accessed via a login and password. eReceipts has recently partnered with IBM Retail, a market leader in the UK EPOS hardware and software space.  The eReceipts Board is chaired by Lord Ian MacLaurin, former Chief Executive of Tesco and former Chairman of Tesco and Vodafone.

Oliver Woolley, Founder Director of Envestors, said: "We believe eReceipts is capable of becoming a leading UK company, championing its innovative solution to help businesses and individuals manage their receipts."

Andrew Carroll, CEO eReceipts, added: "We are delighted to have closed this funding round so we can now focus upon building the business."

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive [e-mail]

Tel: [phone]

Seymour Pierce Limited

Freddy Crossley (Nominated Adviser) Paul Jewell, David Banks (Corporate Broking)

Tel: [phone]

Envestors Limited

Oliver Woolley, Managing Director [e-mail]

Tel: [phone]

eReceipts

Andrew Carroll, Managing Director [e-mail]

Tel: [phone]

Media enquiries:

Allerton Communications

Peter Curtain [e-mail]

Tel: [phone]

Notes to Editors

Braveheart Investment Group plc

Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building tax efficient portfolios for business angels, high net worth individuals and family offices. Braveheart has a demonstrable track record in investing, an established client base and various funds under management.  The Group has offices in Perth, London, Yorkshire and Jersey with franchise operations in Dubai and Manchester.

Following the 2010 acquisition of Envestors Limited, the London based specialist corporate finance advisory business, Braveheart offers a unique and comprehensive suite of tax efficient products to high net worth investors.

For more information: www.braveheartinvestmentgroup.co.uk

Envestors Limited

Envestors enables investors to source dynamic unquoted companies in need of growth capital.  Comprising more than 1,000 fee-subscribed private investors, 14 family offices and a range of funds and venture capital sources, its network has helped over 65 companies raise in excess of £25 million, the majority of opportunities attracting taxation benefits under the Enterprise Investment Scheme (EIS).

Services to companies include intensive preparation for fundraising, initial due diligence and screening, facilitating corporate fundraising through in-demand investor presentation events and face-to-face meetings with potential investors, and placing of non-executive talent.

Envestors was awarded the "Private Investor Network of the Year" at Investor Allstars in 2009 and again in 2011 and is a subsidiary of Braveheart Investment Group plc.

For more information: www.envestors.co.uk

 

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