Veeqo Crowdfunds 280%+ Original Goal for US Expansion

September 3, 2015

in Market Your Brand

Authored by Brad Bortone

Veeqo Crowdfunds 280%+ Original Goal for US Expansion

Swansea-based tech startup Veeqo is on schedule to expand into the US later in 2015. The startup, which provides an inventory management software system to e-commerce businesses, has been establishing a presence in the country over the last few months, and was recently included in Digital 2015’s Digital Dozen.

It has already hired a customer success coordinator dedicated to nurturing sales in the States, and launched integration with the United States Postal Service (USPS). This integration allows US store owners to dispatch and send items internationally as well as locally, with a 75% discount on postage costs.

At the moment, 10% of Veeqo’s clients are US-based, despite not currently having any stateside sales or marketing staff.

Additionally, Veeqo is a crowdfunding success story, having raised £700,000 to finance this expansion from crowdfunding platform Seedrs. The company had initially been looking to secure £250,000 through the platform but, due to investor demand, was overfunded to more than £693,000.

Veeqo founder Matt Warren launched the app in June 2014. The company has already grown to 23 staff (from an initial group of 15) and now plans to use the additional funding for product development and further hiring of software engineers and salespeople.

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