Six firms aim for £700k Squareknot crowdfund cash

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SIX start-ups have launched appeals to raise a total of £700,000 through a new crowdfunding platform that allows companies to offer investors debt or equity stakes in the business. Four of the six to set up crowdfunding appeals on the Glasgow-based Squareknot platform are Scottish firms.

They are ultrasonic technology company Log Six Systems; video messaging software firm, Seetok; Internet Anywhere, Scotland’s largest reseller of “Tooway” satellite broadband systems, and shoe shop chain Shooze with Sole.

Both Log Six Systems and Internet Anywhere previously won tens of thousands of pounds in funding each through the Scottish “Edge” Awards and are “chiclet” firms at Entrepreneurial Spark, a network of small business “hatcheries” backed by Scottish millionaires Sir Willie Haughey, Sir Tom Hunter and Ann Gloag. Ayrshire-based Internet Anywhere is aiming to raise £125,000 in equity, while Log Six Systems is looking to raise £150,000.

John Fitzgerald, owner of Internet Anywhere, said: “This is a fantastic opportunity for us, particularly in the current climate where traditional ways of financing business are now virtually nonexistent.”