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Pocket App

Follow-on - Pre-emption

We are one of the UK's largest independent app development company, mobilising our clients businesses.

EIS

Location
GB LONDON, United Kingdom
www.pocketapp.co.uk

Categories: Programming & Security Digital B2B

Investment
sought:
£115,945
Equity
offered:
34.31%
Funded 18 Mar 2019
Investment
amount:
£119,836
Valuation
(pre-money):
£222,015

Idea

Introduction

This funding round was initiated by the Board to raise working capital for the business via a rights issue. This was supported by the Board, and by major shareholders based on a price of 8p per share.

Pocket App is one of the UK’s leading independent app developer; designing, building and distributing over 200 apps including award-winning, since its foundation in 2010.

Pocket App’s senior executives collectively have extensive experience in the mobile industry having worked in partnership to deliver projects for a vast array of leading brands and marketing agencies.

Intended impact

Since 2016 we have been working on the following initiatives:

i) Improved Quality of customers.
Our focus has been to work with larger customers such as Samsung, Canon, Adidas, Jewson, Coca-Cola, Epson & B&Q, rather than projects with smaller companies.

ii) Innovative Projects with Retainers

iii) Referrals from third party partnerships

Substantial accomplishments to date

Over the last year we have spent time developing a good range of third party partnerships who are introducing significant business.

Rufus Leonard

During the year to 31 March 2018 Pocket App formed a partnership with Rufus Leonard, a local Farringdon based Brand Experience agency, to deliver mobile applications to its clients.. We look forward to other opportunities working with Rufus who have a number of high profile customers including Lloyds Bank, John Lewis and National Express.

Mastercard

Our relationship with Mastercard as their mobile partner for the implementation of their MasterPass delivering a range of projects.

Oracle

Pocket App continues to develop its relationship with Oracle, as we look for collaboration opportunities in the next year.

Microsoft

Finally, at the end of the 2017/18 year Pocket App finalised a partnership with Microsoft EMEA and looks forward to receiving its first formal piece of work from this relationship.

Use of proceeds

The monies received will go towards marketing the company and driving up the number of new enquiries. The company has contracted a new marketing agency starting from June 2018 and will look to acquire more brand new customers.

Notices

As this is a pre-emption campaign open only to existing investors, limited information is being provided at this time. You may request more information from the business, but please note that any such information has not been reviewed or verified by Seedrs.

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

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This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.