With an excellent business model, Ecomnova was undergoing very rapid expansion, and needed cashflow to really capitalise on the position it was in. Added to that were plans to set up business in overseas markets such as the United States and China to kick off its next phase of explosive growth.
Just two months after joining Ying De’s entrepreneur platform, we arranged for Ecomnova to present at entrepreneur shows in Beijing, and meet some of the entrepreneurs its management was already in advanced discussions with.
In May 2017, the first tranche of investment of £200,000 came through from a Beijing-based entrepreneur, who was herself a successful serial entrepreneur with over 10 years of experience in running her own e-commerce companies in Beijing.
Overall, we have helped Ecomnova to successfully raise funds as well as acquiring the extensive skills from five entrepreneurs, enabling the company to scale up its UK business operations. It has also set up a new US office and begun operations in China.
The £1 million investment has funded the major upgrade of the company’s e-commerce platform, a development project that is expected to take place over a five-year period.
It has also enabled Ecomnova to speed up its talent recruitment in key areas of software development, marketing and finance. For example, the company now has a brand new, fully-staffed international marketing team comprising of the five entrepreneurs, all of whom have strong marketing backgrounds.