A TECHNOLOGY company which develops electronic point of sale (EPOS) software for retailers and bars is looking to raise £500,000 from angel syndicates after seeing customer numbers rise by 200 per cent last year.
Edinburgh-based Intelligent Point of Sale’s app is now being used in more than 500 locations and the company is developing licensing plans with a view to seeing the business model replicated across Europe and beyond.
The firm’s downloadable app, intelligentpos, is used by bars, hotels and retailers through portable tablets which enable it to also be used at festivals, “pop up” events and food trucks.
The self-funded start-up, headed by 27-year-old director Robin Knox, was the first to market a tablet-based till system for UK retail and hospitality users in 2012.
Existing customers include electronic cigarette retailer VIP, which operates 35 outlets in the UK, Underbelly, the UK’s largest festival operator, and Canadian coffee giant Second Cup.
“With increasing numbers of SMEs looking to cut overhead costs and cater to increasingly tech-savvy customer bases, more are turning to innovative point of sale solutions which increase their control and efficiency,” said Knox.
“Since becoming the UK’s first firm to supply iPad-based till software we’re aware that there is significant competition in the growing EPOS sector.
“After a successful year in 2014, we’re ready to look forward to investment opportunities and will be looking for willing licensing partners to take intelligentpos abroad.”
Founded by Knox and Paul Walton, the company employs 14 staff in Edinburgh.
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