15th March 2008 - E-commerce Developer SoapyCo Limited receives Aspiration Capital Management Backing
Recently established UK-based software and design house SoapyCo Limited has received start up funding from Aspiration Capital Management LLP. The private venture capital fund will acquire a 50% stake for an undisclosed sum.
SoapyCo comprises a group of talented young individuals led by internet entrepreneur Andy Etches. Alongside the company’s work for a number of corporate clients, Aspiration Capital was particularly keen to acquire a stake in SoapyCo’s proprietary Cart45© e-commerce system. Cart45© is a complete e-commerce solution which allows developers to launch online businesses quickly and cost effectively.
Aspiration Capital founder and Chief Investment Officer Dr Jeremy Howard said:
"The group of individuals that Mr Etches has put together has the ability to make a big impact in e-commerce solutions. We are not generally interested in backing consultancies, but in the Cart45© product we think that SoapyCo has an immediately viable e-commerce software solution – one that should achieve meaningful market share within a short space of time. The dominant platform in the UK market, Actinic, has been around for many years and we believe that a number of the innovations contained with Cart45© should enable it to take market share quickly."
