Shaping Cloud Ltd

Investment Requests for Match Funding for Loan From Manchester City Council

Overview
Funds raised
£52,400
Final AER
19.60%
Loan Term
60
Completed:
19/10/2017
About the Business
Company Name: SHAPING CLOUD LTD Company Number: 07321331
Business Type: INFORMATION AND COMMUNICATION Years Trading: 5-10 years
Business Location: Manchester
About the Risk
Risk Rating: C

Default rate

14.1%

Bad debt rate

5.04%

Risk Indicators
Identified:
Low Security Coverage
The security offered on this loan is below desirable levels
About the Security
Security Offered:
content
Personal Guarantee - Mr C Oliveira
Est. Equity: £0.00

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Personal Guarantee - Mr J Whittingham
Est. Equity: £207500.00

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Who are we?

Visit our Website

Shaping Cloud are one of the UK’s leading cloud experts and Microsoft Gold Partners.

Our products and services help public sector organisations reduce their IT costs and improve their efficiency. We have worked with a wide range of public sector organisations across local and central government, health and education. Previous clients include Manchester City Council, Oxfordshire County Council, Salford Royal Foundation Trust and The Department for Business Skills and Innovation.

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Details

Who are we?

Visit our Website

Shaping Cloud are one of the UK’s leading cloud experts and Microsoft Gold Partners.

Our products and services help public sector organisations reduce their IT costs and improve their efficiency. We have worked with a wide range of public sector organisations across local and central government, health and education. Previous clients include Manchester City Council, Oxfordshire County Council, Salford Royal Foundation Trust and The Department for Business Skills and Innovation.

READ MORE...

The business was approved for a £500,000 investment from the Greater Manchester Investment Fund. This investment was contingent on the business being able to secure private capital to sit alongside. The business has heavily invested in internal product development over the past 18 months supported by the directors at its consultancy services. The directors are not looking to run an equity round until such time that the product has demonstrable traction in the market.

GMIF have therefore agreed to release a first tranche of £250k on the business securing £150k of fresh capital. £100k of this capital has been provided by way of a director follow on round and we are looking for the rebuildingsociety to top this up and unlock the GMIF funds. This will enable the product to be taken to market after which an equity raise will be sought to unlock the remaining tranche.

Loan Offers
Business Profile

What is the loan for?

The business was approved for a £500,000 investment from the Greater Manchester Investment Fund. This investment was contingent on the business being able to secure private capital to sit alongside. The business has heavily invested in internal product development over the past 18 months supported by the directors at its consultancy services. The directors are not looking to run an equity round until such time that the product has demonstrable traction in the market.

GMIF have therefore agreed to release a first tranche of £250k on the business securing £150k of fresh capital. £100k of this capital has been provided by way of a director follow on round and we are looking for the rebuildingsociety to top this up and unlock the GMIF funds. This will enable the product to be taken to market after which an equity raise will be sought to unlock the remaining tranche.

Why consider investing?

The business has secured work in excess of £1m+ projects delivering cloud business case and strategy assessment that are just about to be started.

This together with other active opportunities gives a huge amount of security for the next 12 months of our services business. At the same time our SPINR product is now at a ready to launch phase with an initial pilot now underway with the Government Digital Service and a further proof of concept being deployed for the Royal British Legion. By helping us to unlock the GMIF investment we will be able to maximise on the exciting opportunities these two initiatives present.

Security

This loan is secured by two director guarantees from Mr Whittingham and Mr Oliviera. Both directors are home owners. The directors have a combined est. net worth of £185k. The combined est. value of their two properties is £1.3m, with an approximate combined equity of £470k.

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