Stock control tech firm secures £200,000 investment

A Hereford-based firm which specialises in providing ePos, stock control and multi-channel solutions for UK retailers has secured £200,000 of investment.

Stok.ly was founded in 2015 by managing director Iain Coplans and technical director Dan Preece, who came together to develop a proficient and easy-to-use software platform.

Stok.ly provides a solution for large and small retailers that have struggled to integrate ePos and stock management systems from different vendors with their own websites, Facebook, eBay and other online retail channels.

The funding from venture capital firm Midven, using equity finance from the Midlands Engine Investment Fund (MEIF), is to be used by the firm to implement its growth strategy, with investment being made into expanding its sales and customer services team alongside its business development function.

Coplans said: “We intend to use the funding to grow our sales and customer services teams and invest in business development to acquire new sales leads. We are very focused on expanding our customer base, while continuing to help our existing customers get more out of Stok.ly.”

Along with its investment, Midven has introduced an experienced financial manager to bolster the Stok.ly team.

Giovanni Finocchio, investment director at Midven, said: “I was initially intrigued by why and how an early stage business based in Hereford was winning the custom of both large and small retailers. I quickly realised the founders knew their market, issues that retailers faced with the traditional software offerings and aimed to resolve this with a fully integrated cloud-based solution.

“I was also impressed with the ease of use of its comprehensive software, and after reviewing the company’s growth strategy, I was convinced that this would be a good investment for our MEIF equity fund to make. I’m looking forward to working with the team and supporting the company as it grows.”

Click here to sign up to receive our new South West business news...
Close