Probably not.
'It's probably just a funding round.'
What?
'It's probably just a funding round, boss.'
Yes, Voice. That's what I'm thinking. / It's nothing too exciting, kooks. You can go back to bed now.
But I've got to write this ...
Wealth Club has led a £1.5 million investment round raising £1.3 million under the Enterprise Investment Scheme (EIS) for Advanced Commerce, the visual merchandising platform for online retailers such as LK Bennett and The Conran shop. The platform helps retailers merchandise their websites effectively, delivering a better online shopping experience in order to increase sales and reduce drop-off rates and basket abandonments.
Oh, okay. / But sometimes people just put things in their baskets to remember them, you dig? It doesn't mean they're going to buy.
Anyway ...
'When did you receive this email, boss?'
Er ... just before Christmas, I think.
'Oh.'
Don't worry about it. FFS! It's still news, ain't it?
'Yeah, I suppose.'
Anyway ...
Advanced Commerce was founded by Andre Brown who -
Actually, let's go straight to the voices.
'Yippee!'
Ha! You like the voices, don't you, Voice?
'Oh, I love the voices! You know I do. Reminds me of home.'
Ha, ha, ha! What an idiot!
Anyway ...
Alex Davies, CEO and Founder of Wealth Club says: "The UK e-commerce sector is estimated to be worth more than £150 billion, partly thanks to the shift to online shopping during the pandemic. However, many retailers struggle to keep up with users' expectations, for instance, up to 70% of baskets are abandoned - and that alone can cost e-retailers millions in lost sales. Advanced Commerce is helping solve this. Its platform is the digital equivalent of a good shopkeeper, arranging products on shelfs to maximise sales. And the results speak for themselves: increasing average values orders by 12-15% and the volume of orders by 5-10%."
Christ! Alex, mate, it's not really lost sales. I fill my basket up on Amazon all the time. Then I look at the basket, and say to myself: "Nah, I don't want any of that stuff." It's no big deal, man.
"An opportunity to invest in a start-up where the founder is a sector expert and on top of that has a proven track record with a similar business, is hugely attractive. Our clients recognise a good opportunity when it presents itself and were quick to invest."
Okay. No endorsement, obviously.
Andre?
'Don't let us down, son!'
Shut up!
Andre?
Andre Brown, CEO of Advanced Commerce says: "We were delighted to raise a further £1.5 million in order to continue growing the business at its current pace. This investment will enable us to accelerate growth and expand geographically and develop new products in the same merchandising ecosystem. The software we have developed is called GrapheneHC and is effectively three technologies in one including site search, visual merchandising and product recommendations. We want this technology to become the gold standard for all online retailers."
Right.
Freddie?
Freddie?!
Where is he?!
'Fred!'
Fred Soneya, Co-founder, Haatch Ventures says: "Haatch are thrilled to once again be backing the team behind Advanced Commerce. The progress since our initial investment in 2021 has gone from strength to strength seeing the company grow significantly with 31 signed clients and 15 live on the platform including the likes of Baby Mori, Pangaia, Anya Hindmarch, The Conran Shop and LK Bennett, as well as having a very strong pipeline of clients for the coming months. We have high conviction in this experienced team and look forward to supporting them as they become the No.1 credible player in this space."
Whatever.
Let's go back to Alex ...
Alex Davies continues: "EIS enables individuals to participate in the growth of exciting early-stage British businesses with the added bonus of generous tax relief both when they invest and exit the investment. This enhances returns when things go well and softens the blow when they don't. With tax rates at their highest for many years the relative attraction of investing through the EIS scheme has become ever greater."
Yeah, yeah. I ain't investing in nothing. 'You haven't got any money, boss.' Well, that's why.
Anyway ...
ENDS
ENDS
ENDS
...
Anything else?
No.
Deal with it!
Laters!
