Tech entrepreneur increases his stake in fledgling business
A tech entrepreneur has increased his stake in a St Helens firm.
Matt Newing, the founder of Chorley-based Elite Group has announced he is increasing his stake in DriverNet, the UK’s leading transport and mobile workforce app.
DriverNet was founded in 2017 by Antony Chisnall following a 17-year career working in logistics for small fleet operators and large multinational hauliers.
Mr Newring invested £150,000 in the business and has invested a further £50,000 as growth capital.
The business is now growing and will shortly launch an iOS app as currently all customers are android users.
The latest investment values the business at £2m.
The cloud-based management system and mobile app helps businesses streamline and simplify many of the costly and inefficient processes caused by conventional ways of working.
It connects employees, partners and processes together in a safe, secure and cost-effective way.
Matt Newing, said: “Anthony first approached me via an old school friend, and we immediately hit it off.
“I saw the huge potential in Ant’s app as he had first mover advantage in the mobility market. I’m keen to support new tech that will make a difference to other organisations.
“It’s tough for start-ups, particularly now with the uncertainty of Brexit, and it’s good to be able to help with the next phase of investment to ensure DriverNet continues its impressive growth.”
Anthony Chisnall said: “I’m very pleased to have Matt on board. His initial backing and support enabled us to launch to the market.
“As a result, we are now working with some of the biggest councils in the UK, the NHS and private health care providers to help improve their logistics and transport capabilities. We can’t wait to see what developments 2020 brings with this further investment.”
The DriverNet app provides real time dispatch, route status, arrival and duration times, and map views. It automatically updates routes of mobile workforces to make them more efficient.
