A Seed Stage Investor, SFC Receives $12 Million
SFC, a UK-based seed stage investor that formerly known as Startup Funding Club has received around $12 million funding round led by a commercial subsidiary of the British Business Bank named British Business Investments (BBI). SFC has decided to use the latest round in order to deploy a total of $49.41 million across more than 100 early-stage startups in the UK.
According to several sources, as the COVID-19 pandemic has made the funding landscape highly uncertain, this investment will be a significant boost for early-stage companies across the UK as it will support the market to grow. To overcome the market problems which have been created due to the lockdowns, the UK government has also announced a Future Fund co-investment scheme. But, this scheme requires startups to already have received at least £250,000 in private funding to qualify for support, leaving many early-stage businesses still ineligible.
SFC claims that it has already invested a total amount of worth £5 million into 28 companies during first quarter of 2020, with £1.6 million coming from BBI’s commitment.
According to a spokesperson of BBI, its Regional Angels Programme aims to improve access to funding for businesses in parts of the UK where early-stage capital can be scarce. The new investment is the second one which the company has committed through its Regional Angels Programme.
Stephen Page, a serial former software entrepreneur who founded and exited a number of companies has incorporated the SFC in 2012 with a mission to help high-potential start-ups succeed and to make angel investing more accessible.
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