Contrary to reports elsewhere, the money is not part of a pre-float package for this summer, and Invaluable say they have no plans to issue stock on the open market at the moment.
The cash injection comes from Foursome Investments Ltd, who will receive a five per cent stake in Invaluable in exchange, as well as a seat on the board for their managing director, Michael von Stumm.
Foursome was set up “with the prime goal of supporting socially positive commercial enterprises”, a niche that Invaluable’s stolen recovery operations fit into neatly. These include a database of around 100,000 stolen items, used by the police and others nationally and internationally to identify and recover stolen items.
Details of exactly how the investment will benefit Invaluable are not yet forthcoming but chief executive Jon Dooley promised that it “will enable us to deliver our powerful product combination to an even wider audience”.
£1m boost to Invaluable’s stolen recovery services
INVALUABLE have secured a £1m injection of capital from an ethical investment fund to help develop their stolen database services further.
