Marketsnapp, the leading e-commerce platform for street market traders, plans to raise £200,000 of seed investment to expand its business.
Following the successful launch of Marketsnapp earlier this month, the company today announces plans to raise its first round of external investment in order to grow the level of trading activity across its platform.
Marketsnapp is the first e-commerce platform dedicated to providing an online channel for the hundreds-of-thousands of street traders and market-stall sellers in the UK. In particular, the platform focusses on selling vibrant, eye-catching products that simply aren’t available from larger chain retailers.
Marketsnapp is the brainchild of Roi Mengelgrein, a veteran market operator, who has managed some of Britain’s successful Bohemian-style street markets in Camden and Tooting. About 1% of the nation’s retail activity takes place in street markets and Roi sees great scope in bringing a significant portion of this business online, as has already happened in conventional retail.
The company will raise £150,000 under the SEIS investment scheme, offering attractive tax benefits for private investors, with the balance of £50,000 coming from funders who do not qualify for the scheme.
Roi commented,
“I am very excited to be opening up Marketsnapp to external investors as there is a lot of money to be made and I welcome the expertise that supportive angel investors can bring to a high-growth business.”
Dominic Keen, a long-time e-commerce investor, said,
“I am delighted to be investing in Marketsnapp. Roi brings tremendous energy and passion to the business and the untapped opportunities for market traders to open up their distribution channels are significant.”
To arrange a meeting to run through the investment presentation, please contact Roi Mengelgrein on 07739-777-737 or by email roi@marketsnapp.com