In the first quarter of 2019, on behalf of our investors, we deployed more than £10m to support some of the UK’s best and brightest entrepreneurs in a number of sectors.
Among those investments is Qudini – a London-headquartered technology SaaS platform, launched by Imogen Wethered and Fraser Hardy in 2012, who offer the high street new functionality to drive revenue growth.
Qudini assists the digital transformation of high street locations to allow for a seamless and more efficient customer experience – it offers click and collect, queue management, the ability to request assistance and analytics, among other digital features.
The company has demonstrated strong growth metrics to date and is deployed across a number of enterprises in sectors such as financial services, telecoms and hospitality. Qudini customers already include the likes of O2, RBS, NatWest, Specsavers and Samsung to name a few.
Seneca were immediately impressed with Fraser and Imogen as innovators who had developed a true dynamic solution to address the inefficient process of customer queuing. In the years between start-up and our investment, Qudini had raised seed capital from friends (and family) as well as Telefonica’s Wayra programme (tech incubator). Once they were able to demonstrate that the business had truly scalable revenues, they were well positioned to take additional growth capital on board to speed up that roll out process, bringing them in line with the key metrics we look for in investment candidates. It is at this stage where we look to partner with world class entrepreneurs to help them achieve their ambitious growth plans.
Now more established, Qudini offers a range of customer solutions that adapt in real-time and provide business owners with data analytics to assist day to day operations. With increasing competitive pressures on the high street, Qudini software engages the customer that will ultimately make their experience more efficient and enjoyable as well as the increased likelihood of returning for business.
Imogen and Fraser’s talent and vision continues to impress as they look to scale business operations across a number of industries with their technology all whilst retaining a sticky blue-chip customer base. We are excited to work with Qudini and be a part of the growth journey.
With our EIS and VCT funds currently in a very strong position, we are now looking for entrepreneurs (like Imogen and Fraser) with a niche and innovative product/service to unlock their unlimited potential and slingshot them to new heights.
Connor Grimes, Investment Manager, Seneca Partners
If you know of a business with a strong leadership team and large aspirations that could benefit from an injection of capital to fund the next phase of growth please get in touch: firstname.lastname@example.org
It is important to be aware that not all investments in smaller unquoted companies are successful and investors must understand the risks inherent in such investing. If you are in any doubt then you must speak to a financial adviser. Investments in unquoted companies could put some or all of your capital at risk.