Capital for Enterprise confirms Aspire Fund deal with Everyclick
Thursday, 23 July. Capital for Enterprise Ltd (CfEL) is pleased to announce an investment of £350,000 from the £12.5m Aspire Fund to Everyclick, a leading provider of on-line fund raising tools for charities.
The Aspire Fund is an innovative funding solution offered by Capital for Enterprise, an asset management business that designs, implements and manages finance measures to support Small and Medium Size enterprises (‘SMEs’) across the UK. The Aspire Fund’s £350,000 of equity funding completes a £700,000 funding round which will ensure that Everyclick has access to fresh working capital and can maintain its impressive growth through new business development and contract wins.
Award winning, Gloucestershire based, software company Everyclick provides an on-line platform which enables consumers to make secure donations to any one of the UK’s 200,000 charities. The platform carries an expanding range of tailored services for charities and corporate sponsors. These include donations, sponsorship, appeals, vouchers, eGreetings, shopping and search based giving.
Established in November 2008, the £12.5m Aspire Fund targets support for women-led businesses with an objective to increase the number of successful female entrepreneurs within the UK, ensuring that those with real potential to succeed are not held back through a lack of growth capital. The Fund is able to make investments of between £100k and £1m, providing up to 50% of capital in a funding round alongside other private investors. Commenting on this investment of the Aspire Fund, Rory Earley, CEO of CfEL, said:“We are extremely pleased to announce this Aspire Fund investment. We are delighted to be supporting Everyclick as it enters an exciting phase of development and look forward to its future growth.“
The Aspire Fund will create a legacy for enterprise in the UK by demonstrating that attractive opportunities exist for female entrepreneurs to create and grow sustainable businesses.”Polly Gowers, Chief Executive Officer and Founder of Everyclick, said: “This investment will provide the working capital required to secure the contracts which will take the company to its next phase of growth. We are delighted to welcome the Aspire Fund as an investor and look forward to partnering with the team at CfEL as we work towards becoming the platform of choice for online charitable giving.”
Alongside the Aspire Fund CfEL also manage the £15m Capital for Enterprise Co-Investment fund (the Co-Fund), which is also able available to invest up to 50% of capital in funding rounds of between £200,000 and £2million alongside other established fund managers into SMEs. The Co-Fund is making new investments over the next 9 months with a focus on fundamentally sound businesses with existing cash flows and genuine growth potential but which are currently unable to access the funding they need. Investors currently engaged with businesses that might benefit from a co-investment from either the Aspire Fund or the Co-Fund are encouraged to contact CfEL.
Notes to editors:
For further information on the Aspire Fund, this specific investment or Capital for Enterprise Ltd please contact:
Sam Hardy+44 (0) 20 7149 3707+44 (0) 777 1780 946 sam.hardy@champollion.co.uk
People - Melanie Perkins and Ian Connatty led the deal on behalf of the Aspire Fund. CfEL were advised by SJ Berwin (Legal).