Last week, Virgin Media Pioneers (VMPs), an online community for entrepreneurs that aims to support British business, hosted an award-winning web show, On The Line. As a valuable member of the VMPs, Volpit, the startup investment platform was delighted to speak about their journey as a startup in Tech City.
The event took place in Bold Rocket, Shoreditch – London’s tech hub, where over 60 people attended. A range of startups from retail to travel & tourism gathered together to celebrate the filming of the second series of On The Line. The catering at the event was prepared by London startup - One Fine Meal and the drinks were supplied by London's first Hawaiian restaurant, The Pond Dalston – both exciting startups that are soon to launch funding rounds on Volpit’s platform.
On The Line, the global Webby Award recognised web show from Virgin Media Pioneers has returned for a second series and is now available online*. In the second series, Volpit was in the spotlight representing London’s Tech City. Launched in July 2014, Volpit aims to simplify the funding process by integrating tools such as the PitchBuilder™ to save time for both startups and investors. It has already raised £200,000 in funding for startups on its platform and has over 2,000 registered investors.
This series follows Volpit’s journey to a successful launch and explores the opportunities and challenges its founders tackled along the way. It also features commentary from investors in Tech City, who offer insight into how London’s technology startup space has matured and where it is heading in the near future.
Volpit is the first startup investment platform to remove the time restrictions (a countdown until the end – known in the industry as days left), from its pitches through the PitchBuilder™ tool. This feature will soon integrate the SEIS and EIS application process, which will represent a huge step forward in bringing the application process online. Startups will be able to apply for advanced assurance whilst simultaneously creating an online pitch. The application will then be automatically sent across to HMRC for approval.
Patrick O’Flaherty, Co-founder of Volpit, commented on the event highlights: “We’ve come a long way since we first came up with the concept behind Volpit and the last few months have been a huge learning curve as we’ve brought the company to life. The support we’ve received from the Virgin Media Pioneers community has been incredible and it was great to meet up with many startups that have gone through funding rounds on the Volpit platform.”
*On The Line: Tech City is available to watch at: http://www.virginmediapioneers.com/on-the-line
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For further information or to arrange an interview, contact Tashia Cameron at Sense on 0203 5513954 or email firstname.lastname@example.org.
Notes to editor
Volpit is a recently launched, FCA authorised, online startup investment platform designed to make investing in startups simple.
Volpit has developed a proprietary technology platform that simplifies (standardises, automates and transforms) the way people can invest in startups. It provides a simple, straightforward and transparent process for startups to raise seed capital and for investors to invest in startups that they discover on the Volpit platform.
Patrick O’Flaherty (24) and Simon Oberman (23) started Volpit in 2012 because they believed that investing in startups was too complex and that with the right technology, it could be much easier. This could then reduce barriers to investing and bring untapped capital and experience to startups.
In Q1 2013 they invested their own money to develop a prototype of the platform. They then further developed the technology, the legal and the regulatory framework that surrounds it. In Q3 2013 they raised £200,000 in seed capital to further develop the platform and apply for FCA authorisation.
In Q1 2014 they launched the beta, and had over 750 startups and investors join the platform.
In Q2 2014 they were the youngest to gain authorisation by the Financial Conduct Authority. FCA authorisation is awarded organisations that pass rigorous scrutiny of systems and controls, resources and suitability. It also means that Volpit investors will have access to independent experts from the Financial Ombudsman Service and claim compensation from the FSCS.
Watch the PitchBuilder™ video demo here.
Give Volpit a go yourself here.
Virgin Media Pioneers
Virgin Media Pioneers was formed by Virgin Media in 2010. It provides an online community for aspiring entrepreneurs and connects likeminded people facing similar challenges across a range of industries – from fashion to digital to catering. 8,000 Pioneer members now regularly interact online to facilitate peer-to-peer advise and discussion forums.
The first series of On The Line was an honouree in the 2014 Webby Awards for Best Use of Video: www.virginmediapioneers.com/2014/04/on-the-line-officially-honoured-at-webby-awards-2014
Season one of On The Line told the story of another Virgin Media Pioneers company, Elephant Branded, as its co-founder pushed his ethically-made bag company to new heights. It is available to watch at: http://www.virginmediapioneers.com/2013/09/on-the-line-1/
Twitter conversations at #OnTheLine @vmpioneers