Powered Now reaches £350k Crowdcube target

Tech start-up Powered Now with its mobile admin app for tradesmen, has successfully hit its crowdfunding target of £350,000 in its second raise on Crowdcube and the pitch is now overfunding.

The money will be used to further market and develop its app for tradesmen and field trade companies, simplifying administration and eliminating paperwork.

The Crowdcube campaign attracted 167 investors who invested amounts ranging from £10 to £50,000 with an average of £2,100. There is 11% equity on offer and the pitch will stay open for further investment until mid-September, with a corresponding increase in equity.

Benjamin Dyer, co-founder and CEO of Powered Now says: “Having raised nearly £600k a year ago we are delighted that existing stakeholders are keen to put money in a second time and they are joined by 80% of new investors.

"Since our last fund raise around 30,000 trade companies have downloaded the product, while our paying customers are shooting up with over 10% in the US.

"Thanks to the spend on product development and the launch of a new version, Apple recently featured Powered Now as a best business app, so we are confident that we have the right product at the right time.”

The Powered Now app works on iPhones, iPads and Android, providing a comprehensive admin toolkit for every step, from booking an appointment, and preparing an estimate through to taking payment (by credit/debit card or PayPal).

It even works when there’s no wi-fi signal, and automatically backs up all information whenever there is a connection. Everything is designed to minimise the number of times that you need to enter information; once it’s entered, it never needs to be put in again. Data can also be exported for accountants and book-keepers.