Wednesday, September 16, 2015

Hunting Scottish Unicorns

A couple of days ago I posted an article up to Linkedin about The Search For the Next Scottish Unicorn. This mentioned the two Scottish Billion Dollar tech start-ups (Skyscanner and FanDuel) and asked the question about which would be the next. Both, according to sources online, are now worth over £600,000 and so qualify (at the current exchange rates) as tech unicorns.

It will be interesting to see which Scottish tech start-up is the next to reach the 10 figure sum and how that fact will be measured & proved - quite possibly by the investment amount and the percentage taken.

So which ones will be next? Here's some suggestions on who this could be:

Mallzee
Described at the 'Tinder for Fashion' Mallzee is the shopping app that lets you browse and shop over 100 stores from the comfort of your own device.
Having recently raised $4 million (£2.5 million) from a handful of investors including the Royal Mail, the start-up is poised for big mCommerce growth.
Worth:
The exact percentage taken for the £2.5m injection is not clear. However, give that CEO and founder Cally Russell turned down £75,000 for 15% equity from Peter Jones on Dragons Den (therefore potentially valuing the company at £500,000) so one has to assume that a similar or better deal has now been agreed.

Clear Returns
Clear Returns is a Scottish firm that produces clever software which helps retailers by identifying which goods are sent back by customers and more importantly why.
Worth:
Founder Vicky Brock raised £110,000 from Angels Den and Angel Academe a couple of years . It's exact valuation is unknown, but it has a decent client list including Scottish-based high street retailer M&Co.

Have I missed anyone?

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