Cornwall and Isles of Scilly Investment Fund invests £600,000 into Colateral | The FSE Group
Summary
The FSE Group is the appointed CIOSIF fund manager.Colateral has created a market-leading Software-as-a-Service (SaaS) platform, enabling retailers and brands to manage their In Store marketing campaigns, cutting waste and driving increased sales. The new platform, hailed as something the industry has been trying to build for 20 years, already has an impressive client list boasting some of the UKs leading retailers including Tesco, Waitrose, Mothercare, Paddy Power and WH Smith.Robert Salvoni, Colateral Chairman, said: Managing in-store marketing is a massive headache for central marketing teams and somewhere between 20% and 50% of assets and resources are simply wasted. Colateral enables reduction in cost and time, whilst massively improves targeting and therefore sales and return on marketing spend.Our software offers an end-to-end solution, supporting and streamlining every stage, from building the initial campaign, managing the operation, through to post-event analysis. We are delighted to have received this funding from CIOSIF and our private investors, which will enable us to grow the team to support expansion in the UK and overseas, and to further develop the product.Ralph Singleton, Senior Fund Manager at The FSE Group, said: Having produced a unique solution that fills a market gap so well, Colateral has positioned itself to take advantage of a global opportunity worth an estimated \xa3120bn per annum. It is good to see that investment in Swoop will support the creation of new jobs in Cornwall over the next three years.Cornwall & Isles of Scilly LEP non-executive director, John Acornley, added: Colateral is an example of Cornish tech business operating in a global market.