Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

POD Point raises £7.5m as electric vehicle sales surge

Sponsored

Tech Chats: Data ethics with EY’s Ian Williamson

Investments

Edinburgh-based ad analytics firm TVSquared gets $6.5m

Press Releases

CreditLadder appoints Proptech Expert Sheraz Dar as new CEO
Hermit: A Startup With New Ideas About Office Space
TestPlant appoints Chief Marketing Officer

Software firm Perfect Channel gets £2m from Beringea and UIL Limited

money pounds
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Software startup Perfect Channel has closed a £2m funding round from its long-term backer Beringea and new investor UIL Limited.

The London-based firm, which has created an auction and trading platform for companies operating marketplaces in commodities and financial assets, will use the funds to continue developing its product.

Today’s announcement comes after Perfect Channel appointed its new CTO, Jim Leeds, in January.

UK investment news, a $233m acquisition by PayPal, Nokia’s 3310 returns and more in The Week in Tech

Phil Bird, CEO at Perfect Channel, commented on the news: “2016 was a particularly successful year for us – we delivered solid financial results, made significant strides in advancing our technology through the launch of the GDT Marketplace, and reaffirmed our commitment to innovation by appointing Jim Leeds as our new CTO.

“Jim brings invaluable experience in software development of cross-asset trading and risk management. He has previously led product innovation at Openlink Financial, including its transition to the cloud. He will be pivotal to the continued innovation of our product portfolio and building on the momentum we have created so far,” he added.

Eyal Malinger, investment director at Beringea, added: “With half of the commodities sector significantly affected by limitations to traditional, expensive, slow and intermediated trading models, this is clearly an industry ripe for innovation.

“Perfect Channel’s track record of success with clients across a wide range of sectors, and its impressive growth in revenue and headcount through 2016, mean that we are delighted to extend our investment to support continued product development and expansion. We’re also pleased to welcome UIL as a co-investor, and look forward to working together in the future,” said Malinger.

Perfect Channel had previously closed a £2m Series A in July 2014, followed by an additional £1m Series A in December 2015.

Enter your e-mail address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Erik Car 2-podpoint

POD Point raises £7.5m as electric vehicle sales surge
posted 48 mins ago

Tech Chats data ethics

Tech Chats: Data ethics with EY’s Ian Williamson
posted 4 hours ago

TVSquared

Edinburgh-based ad analytics firm TVSquared gets $6.5m
posted 6 hours ago

company culture

Why you need to get company culture right
posted 8 hours ago

Images for FreeAgent in Edinburgh.
FreeAgent, accounting software simplified.
Pictured: Ed Molyneux

Pictures are free first use only.
© Helen Pugh Photography
www.helenpughphotography.com
info@helenpughphotography.com
07837 533 051

Ed Molyneux, co-founder of FreeAgent, on taking your company public and learning from your mistakes
posted on February 19, 2017

Reports

Top tech stats: tech salaries on the rise, northern tech gender gap increases & more
posted on February 18, 2017