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Launched Technologies (t / a February) secures £ 250,000 seed investment from SFC Capital – UK Technology Investment News

February, based in Hull, raised £ 250,000 in venture capital (VC) funding in just one year of trading, having already proven to be the leading no-code app developer in the UK.

February https://www.feb.co.uk/which allows companies to build their own apps based on a model without using code, will use initial funding from SFC Capital to invest in R&D and operational and customer growth, says Ash Lewis, CEO, who launched the activity last year with brother Tom, COO.

“We started February after identifying a distinct gap in the UK market for a code-free app developer and that the path to that market was quickly achievable with the skills and team we had and were able to bring together,” he says. software developer Ash, 26, who first hatched the Feb.co.uk idea with Tom, 21, after working on labor-intensive and money-intensive app launches in the UK and Europe .

“Since 2020, when we started developing our software that can quickly generate native apps in multiple languages ​​from a visual interface, we have had a goal that can be summed up in one sentence ‘anyone can create a modern and powerful app, without any coding or design knowledge ‘.

“App launches can simply waste time, money and hours on their development, but what we have begun to realize is that around 90-95% of the code used in app development was pretty much the same or very similar standard logic with only five to ten percent as a single business logic.

“Building an app, like a dating app, seems like a big and complicated task, but without code everything from the user interface, to user onboarding, user management, relationship management, ban and to the elimination of users, even the promotion of apps can be very simple and straightforward! ” (see: https://bit.ly/3P0103T)

This simple, no-nonsense approach also allowed the young team to focus on the backended nature of an app and aim to make Feb.co.uk an app developer providing not only code-free software but also design options. integrated apps.

“We also found that people were having a hard time designing an app successfully, which is why we followed the app design template path with Feb.co.uk offering 50 design templates.”

A soft start with a TikTok campaign mid / late last year generated customers, initially offering the apps for free to build market insights and a marketing and industry profile before moving to a paid model this summer, with “Build your own”, “Build with us” and “Build for you” options and monthly and yearly pricing ranging from (monthly) £ 37 / month to £ 224 / month and (yearly) £ 74 / month to £ 449 / month – see: https://www.feb.co.uk/prices

“We have had a lot of interest from venture capitalists, in part because there is a lot of interest in code-free software development. It helped that we were already generating revenue in such a short time and had a proven track record in the tech industry, including previous venture capital fundraising, ”Ash added.

The brothers, who both grew up and attended school in Hull before turning to tech, previously worked in another of their successful tech businesses for about six years, which they accomplished as a two-year business sale. does.

They can’t wait for the last phase of their tech adventure to arrive, with more research and development, team building, product refinement … and the launch of some of their own apps.

Without a true UK competitor, they will initially use the funding for a short period of research and development and use their existing cash generation and little or no growth projected.

“We will build and strengthen a remote team, as lean as possible, with outsourced contractors including a software engineer and a customer success manager,” Ash added.

“We plan to follow this with more efficient slow growth, gradually increasing cash generation followed by some Series A venture capital financing and then customer growth and ‘inefficient’ cash generation.

Ash and Tom are also using February’s easy path to building apps by developing their own in-house apps.

This includes “Duos”, an app that allows people to find a friend to play with; and “Audid”, an audio app that will launch soon providing 15 minute book summaries.

Tom Lewis said: “If we have a good idea for an app, we create it. We are eager to grow these internal apps, and it’s a case of ‘let’s do it’.

MEDIA INFORMATION:

For more media information, contact Julian Woodford, Placed Media Director. Cell: 07538 710110, [email protected]

ABOUT FEBRUARY:

See: https://www.feb.co.uk/

E-mail: [email protected]

Contact: https://www.feb.co.uk/cont us

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Launched Technologies (t / a February) secures £ 250,000 seed investment from SFC Capital – UK Technology Investment News

Source link Launched Technologies (t / a February) secures £ 250,000 seed investment from SFC Capital – UK Technology Investment News

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