Summary of the technology
B2B Product companies still trade mostly offline - $6.7Tn annually. There is no easy way to go online for most of the smaller businesses in this category. SouqBox is the world's first dedicated B2B SAAS platform for the online journey. We say “Journey” because its customers can start by having a risk free, fully branded ecommerce platform with complete control over the trading models in less than 30 minutes. It’s self-serve and fully branded to the customers’ needs. And at a time that is appropriate for them, can have the same platform evolve into being a fully fledged market market place i.e. a platform where customers are able to access other suppliers. By becoming the defacto marketplace, and not just a shop window, a SouqBox client is able to generate incremental revenue streams from its competitor’s trading activity too - if it chooses to.
Details of the Technology Offer
The business has been self-funded for the past 2 years. Revenues have been doubling each year. FY 2020 expects revenues to be circa £700,000 to £750,000. We are raising a series A round of £1M on a pre-money value of of £5M. The investment is EIS eligible.
See website for more information on the business.