Sweden-headquartered Tradedoubler, which counts the UK as a key market, has made the fund available to digital companies in Britain, France and Germany to accelerate growth of European startups operating in its sector.
Up to €500,000 of investment is up for grabs per business, as Tradedoubler will fund companies for equity. The firm works with the likes of Tesco, Groupon, Microsoft, The Body Shop and Accor Hotels – the latter of which bought Onefinestay for £170m in April – and seeks partners that can produce complementary services for customers. “By establishing TD Ventures, we are continuing to build on our heritage of technology innovation, working with young businesses to accelerate growth and shape the future of our sector with this unique programme,” said Matthias Stadelmeyer, CEO, Tradedoubler. To apply, startups are required to submit a business description of 200 words on the Tradedoubler site, detailing why they’re deserving of a place on the programme. A TD Ventures panel led by Stadelmeyer and the company’s chairman Pascal Chevalier will then review entries to decide which companies will be the best fit.
Incubators are of big interest to companies today. Barclays revealed its Angel Hubs scheme to back scale-ups in March, while John Lewis announced the opening of its third JLAB incubator for retail innovators, which comes with £200,000 of funding available. Richard Heggie, head of high growth and entrepreneurs at Barclays, said: “We know that for UK businesses, access to the right types of funding plays a vital role in their growth and this partnership with the UKBAA will help ambitious entrepreneurs.” Elsewhere, Paul Coby, IT director at John Lewis, offered: “JLAB is about bringing disruption and innovation to the retail industry – we want to develop ideas and technology that really excite John Lewis shoppers. To do this, it’s essential that we work collaboratively with fast-growing businesses to add value to their operations.”
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