The digital sourcing platform helping brands build faster, leaner more responsible supply chains.
|Location||London United Kingdom|
|Sectors||SaaS/PaaS Mixed Digital/Non-Digital B2B|
|Incorporation date||25 Nov 2015|
Important information: The institutional investors in this round will be issued preference shares, which have a 1x non-participating liquidation and exit preference. Please see 'round details' at the bottom of the page.
Following a successful 1st Round of funding on Seedrs in April 2017 (158% Funded), Supplycompass are now raising their 2nd Round of funding to continue fuelling the growth of the business.
The round is being led by one of London’s leading seed-stage VC firms and a number of other prominent VCs and angels have also joined the round.
Supplycompass is the sourcing platform that helps brands build faster, leaner & more responsible supply chains.
We are on a mission to create the world’s most trusted supply chains, to offer the most responsible and innovative sourcing solutions and to provide the most seamless experience for both brands and manufacturers.
Through the platform, brands are matched with the right manufacturer for their business and then use the platform to create tech packs, receive quotes, request samples and manage production from design to delivery - all from one dashboard.
There is a distinct lack of process, automation and digitisation in fashion supply chains and, as a result, brands and manufacturers often struggle to work together in an effective manner.
Supplycompass is the pain killer for both brands and manufacturers - helping them not only to find one another quicker but enabling them to structure information and communicate more effectively from design through to delivery.
Through the unique combination of an intuitive platform and an experienced team of production managers, brands can seamlessly manage the production of multiple collections and product lines like never before.
The platform simplifies the sourcing and production process by providing structure, process and automation. It is the single source of truth for all parties involved in production and delivers value throughout the supply chain.
Substantial accomplishments to date
- £1m of product sourced.
- 62+ Clients.
- 50 Manufacturing Partners across India, China, Sri Lanka, Portugal, Nepal.
- 90% of target clients placing repeat orders.
- 12k+ Website visitors per month (April 2019).
- Average of 100+ Sign ups per month.
- We are seeing some brands 4x their order volumes Year on Year.
Selected as Top 50 Retail Tech Innovations by FUTR.
Featured solution in Sustania Global Opportunities Report 2018.
Sublime Good Brand Award 2019.
Press: Forbes, JustStyle, Knitting Industry News, BQ, Supplychain Digital, Bel Jacobs,Courier, FashionBeans, Social Enterprise.
Brands - Brands pay a £2,000 Matching and Set up Fee per manufacturer they work with and then pay a % on the order value they place with the factory -between 7-12% depending on order size.
Manufacturers - Manufacturers will pay a 5% commission on all orders that Supplycompass bring to them.
With investment from this raise, we will also be trialling out a subscription based model for both brands and manufacturers.
Use of proceeds
Tech Development - This round of investment will help us to execute our strategy of bringing our tech team in-house, hiring the tech team that will allow us to develop and iterate our product offering at an increased pace.
Growing the Team - Alongside hiring a tech team of 5, we plan to increase our operations team in both the UK and India. This will facilitate us having increased capacity to work with more brands and improve efficiency of orders.
Clients - We will increase our marketing spend across a number of channels with the aim of attracting more brands within our target market. We will also focus our efforts on up-selling to our current clients and taking on more of their production.
Our North Star KPI remains 'reducing the operational hours required to take a product from design to delivery' and we are seeking to reduce this by 50% over the next 18 months.
The institutional investors in this round will be issued preference shares, which have a 1x non-participating liquidation and exit preference.
On a distribution of assets, liquidation, return of capital or exit, shareholders with these shares will first receive 1x their investment amount before the remaining proceeds are distributed amongst ordinary shareholders on a pro rata basis.
In addition the preference shares also carry anti-dilution rights in the event the company issues new equity security for less than the price per share in this round.
Seedrs investors will be issued ordinary shares in order to benefit from EIS relief.