A company specialising in software aimed at people over the age of 65, or those with visual or dexterity impairments is the latest company to be supported through the Enterprise M3 Funding Escalator.
Guildford based Easology’s bespoke software enables everyday functions on mobile devices to be easier to navigate, with simplified layouts, bigger text, larger icons and a magnification function for reading small print on leaflets and packages, resulting in a more user friendly-experience.
Easology teamed up with Samsung for the release of the Galaxy Tab A9+ and also successfully piloted their software with EE in 2022. From Spring 2024, mobile network providers BT and EE will offer the Easology software on all Samsung Tablets and smartphones.
The £300,000 Expansion Loan will help fund further product and brand development, with a strong focus on sales and marketing channels throughout 2024.
Dr Peter Ashall, Easology CEO, said: “We are dedicated to helping older generations and people with disabilities keep up with the fast paced technology sector, and work with the ethos that a more user friendly solution doesn’t have to be less powerful. We have put a vast amount of effort into understanding why some groups of people aren’t online and have developed our app to combat difficulties in visibility, navigation, set up and searching, along with other hindering issues. This funding will allow us to roll out our software across different devices and networks both in the UK and across Europe, and therefore help even more people.”
Paul Smith, Investment Manager at The FSE Group, which manages the Enterprise M3 Funding Escalator on behalf of Enterprise M3 Local Enterprise Partnership (LEP), added: “Advances in technology often leave the older generation and people with disabilities behind. Easology software goes a long way to minimise this inclusivity barrier and enables users to stay connected with their family and friends. We were impressed by the strength of the company’s management team, coupled with the solid financial backing they already have in place. We are pleased to be supporting Peter and his team on the next stage of their journey.”
The Enterprise M3 Funding Escalator is a £10million initiative funded by Enterprise M3 LEP. The escalator includes an expansion loan scheme, a short-term trade loan scheme and an equity growth fund, and provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.
The FSE Group has been providing high-growth SMEs with accessible market-gap funding since 2002. We work with stakeholders and partners, including British Business Bank, Finance Yorkshire, Funding London and Local Enterprise Partnerships, to deliver regional funding that supports job creation and economic prosperity. With a range of funds that are driven by an economic impact rationale and are not purely focused on commercial return, FSE is committed to supporting in the long-term, sustainable businesses that will grow, provide employment, and generate economic benefit in an environmentally and socially responsible manner.
For more information about the Enterprise M3 Funding Escalator visit: https://www.thefsegroup.com/fund/enterprise-m3-funding-escalator or contact Paul Smith: Paul.Smith@thefsegroup.com