Canaree secures government’s Future Fund pandemic funding
We’re so excited to say that Canaree has reached a huge milestone. As of this week, we have raised a total of £500k!
In the midst of a pandemic, it was by no means an easy feat. Nonetheless, with the continued hard work of our team and unwavering commitment from our investors means we are able to sit back and enjoy such a huge achievement.
Read on to find out a bit more about the process, and our feature in Business Insider
As we said, trying to start a business during a pandemic isn’t something that can be achieved easily, especially when a lot of funding that is usually available to new businesses has been inaccessible due to the circumstances.
However, a lifeline was thrown to startups like us when The Chancellor of the Exchequer announced that he was set to establish a new Future Fund for innovative businesses in the UK.
As a pre-profit and pre-revenue startup, certain support programmes like CBILS (Coronavirus Business Interruption Loan Scheme) aren’t applicable to us right now and naturally, we seized the opportunity presented by the Future Fund.
We’re delighted that our application was approved, securing extra funding for Canaree.
As we said, now is a tricky time for everyone, and trying to scale a business - if it wasn’t already a challenge - is even more so right now.
Investment from our board, Little Venice Partners and now from the Future Fund fills us with confidence that we can achieve what we set out to do: to make startup finance simple for all founders, so they can get their business off the ground.
For now, it’s time for us to get back to work on Canaree, ahead of our official product launch in September.
If you want to see what we’ve been working on so far, sign up for access to our beta here!