Stamp Free celebrates successful £300,000 funding round
Stamp Free Limited, the Edinburgh-based digital postage stamp company, has announced it has successfully raised £300,000 to ramp up commercial traction and further develop its Stamp Free Digital Postage Solution™.
The funding was led by Silicon Valley-based R42 Group and Cambridge Angels investors.
The company also received grant funding from Scottish Enterprise (SE) and benefited from advisory support through SE’s High Growth Ventures programme.
Stamp Free is now pleased to announce the launch of its Stamp Free Digital Postage Solution™. Initially targeted at postal and logistics sectors, the solution is the first in the world to be offered by a company that is independent of postal services.
The solution allows businesses and consumers to use the Stamp Free app to send parcels and letters as well as return consumer goods without the need for a postage stamp or printing a postage stamp at home.
Stamp Free is founded by serial entrepreneur Hugh Craigie Halkett and, from Royal Mail, he has been joined by Tim Higginbotham as IT Director and Oli Pearce as finance director.
The firm has also announced that Alan Barrie has been appointed as chairman. He brings with him in-depth industry experience having previously worked at the International Post Corporation as director of operations & technology for six years. He is also joined by Chris Galley, the former CTO of Accesso Technology Group plc, as the company’s technology non-executive director. Making up the team, the board will be advised by Ian Jones, former chief of staff reporting to the CEO of Royal Mail, and Miki Fairfax, investment manager and business angel.
Hugh Craigie Halkett commented: “This investment enables us to conclude our product validation stage with a number of engaged postal companies as we look to disrupt a market that has been rapidly expanding under COVID-19 and will continue to do so thereafter.”
Dr. Ronjon Nag stated: “I am delighted to be investing in Stamp Free. I pioneered machine handwriting recognition and this is the best application of it I’ve seen – so we at R42 jumped at the chance to invest at this early stage and be part of the growth of the business. We wish them all every success.”