Veeqo helps online retailers all over the world grow their business by selling on multiple channels.
Business overview
| Location | Swansea, United Kingdom |
|---|---|
| Social media | |
| Website | www.veeqo.com |
| Sectors | SaaS/PaaS Digital B2B |
| Company number | 8391581 |
| Incorporation date | 6 Feb 2013 |
Idea
Introduction
All large ecommerce businesses have two things in common. They know how to attract customers. And they know how to build efficient, scalable operations.
Veeqo exists to make the operations bit easy.
After the user hits the ‘buy button’ there’s a whole host of operations stuff that has to go right. Your inventory has to sync across your website and your marketplace listings, so you don’t oversell elsewhere. Your demand forecasts need updating, so you know when to reorder. You might need to raise a PO to get that fresh stock from your supplier. Your order needs to be routed to the right warehouse or FBA. You’ll need to efficiently pick and pack the items ready for shipping. And you’ll need to print shipping labels with the most cost-efficient carrier.
At the start, it makes sense to hack together these solutions using spreadsheets and basic apps. But as orders increase those systems just don’t scale - inventory doesn’t sync, returns increase, customers complain, picking errors pile up, and margins erode. In short, your ecommerce operations just hit a wall.
Veeqo is the scalable ecommerce operations hub that unifies and streamlines all of the above - that’s orders, inventory, picking and packing, shipping, and purchasing, all in one.
We’re excited about what comes next. You are now able to continue on your journey with Veeqo and maintain your existing percentage holding in Veeqo.
Preemption details
Veeqo has recently raised a follow on investment of £1,050,090 from Octopus Investments. The company is offering existing investors the option to take up preemption rights.
As this is a preemption campaign, limited information is provided at this time.
Outstanding debt
The company has the following outstanding loans:
1. A loan from Octopus Ventures for £825,000 with an interest rate of 10% per annum. This can be redeemed by the company anytime after 3 years of the loan being advanced (or earlier, but interest will be paid for the full 3 year minimum). The loan note must be redeemed in full by the longstop date which is 5 years from the date of the agreement.
2. A loan facility of £500,000 from Welsh Government. Only £38,000 has been drawn down so far, with the option to draw down the remaining up until 2022. The company does not intend to draw down this remaining amount. The loan is to be repaid from December 2022. This loan is subject to an interest rate of 1.5% above the Bank of England base rate as varied from time to time.
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