Tech start-up business featured on national television enters administration
yboo, The Huddersfield-based start-up firm behind a phone contract comparison app, has gone into administration.
Quantuma partners, Simon Bonney and Michael Kiely, have been appointed as joint administrators for the company, which appeared on the BBC’s Dragons’ Den show earlier this summer.
yboo CEO, Martyn Gould, pitched for £250,000 of funding in exchange for 2.5% of the business.
The Quantuma advisory firm administrators were appointed following an unsatisfied demand for payment by yboo’s Chargeholder.
Founded in 2017, yboo uses its app to recommend phone contracts or SIM only plans based on usage, price and signal strength where customers live and work. The app has more than 40,000 downloads across both Android and iOS devices. The company employs 12 staff.
Bonney said: “I can confirm that myself and Michael Kiely have been appointed as joint administrators of yboo Limited due to an unsatisfied demand for repayment from the company’s Chargeholder.
“We are currently taking steps to keep the company’s IP and software live in order to seek offers from interested parties.
“We are continuing to review the position to determine the best outcome for the company’s creditors. There is significant intellectual property available for sale and I would urge any parties interested in either the IP or the assets of the business to contact the Joint Administrators.”
