Tech company looks to raise £600k under EIS/SEIS
- On September 6, 2023
- By GrowthInvest Marketing
Roam Local Limited, a digital high street marketing app company, has launched an offer for subscription to raise up to £600,000 under the Enterprise Investment Scheme and Seed Enterprise Investment Scheme.
The company explained that this offer will be for an equity stake of 20 per cent and will give a £3mn valuation for the company pre-raise.
Roam has received EIS/SEIS status and can provide investors with tax relief, from HMRC to operate as a holistic digital high street solution for local businesses.
The business offers marketing and engagement services designed to “empower businesses” and “reinvent” the high street experience.
It said the first £250,000, on a “first come, first served” basis, will offer the full range of SEIS tax reliefs, including income tax relief of 50 per cent, capital gains tax exemption, and inheritance tax relief.
The remaining £350,000 will offer the full range of EIS tax reliefs, including income tax relief of up to 30 per cent, capital gains tax deferral, and inheritance tax relief.
The minimum investment is £3,000 and commission of 3 per cent is offered to introducers.
Roam Local founder and managing director, Andrew Bartlett, commented: “Roam for business is not only designed to attract new customers, but to build loyalty and repeat business, providing a dramatic increase in profits.”
He added that the company has already launched the app in the north of England and in Northern Ireland but the money raised now will “help fund our national and international roll-out”.
Roam was created during the Covid lockdown to help “save our high street” by letting consumers “live like a local wherever they are”.
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