BUSINESS TYPE:	SOFTWARE COMPANY
LOCATION:	MIDLANDS
NEW CAPITAL:	£200,000

In November '07 we were approached, through the IIB network, by a software company that had developed an exciting product for managing auctions in conjunction with on-line auction houses such as eBay. They were not at that time fundable, because of issues arising from the ownership of the IP, however, with advice from us, they were able to sort these out and fundraising was commenced in the New Year.

The funds were needed for marketing the product worldwide and for continuing its technical development, both of which were necessary if it was to continue to take market share and reach its sales targets. We were able to introduce the company to a family investment fund, who saw the potential of the product and its business model and who was prepared to lend the company enough money to continue operations, while they did their due diligence. This loan took the urgency out of the situation and they made the investment in July, a somewhat leisurely progress by Beer and Young's standards.

'Our company was not easy to sell, being a virtual internet company. Beer & Young through their superb contacts managed the impossible and found us the right investor; we completed the deal with their assistance and now are planning and developing an internationally profitable business.'
HM Director

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