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Stamp Free raises £300,000 for innovative digital postage solution

MBM recently assisted Stamp Free raise £300,000 to ramp up commercial traction and further development of its Stamp Free Digital Postage Solution™. The funding was led by Dr Ronjon Nag’s Silicon Valley based R42 Group, and Cambridge Angels.

The deal team at MBM was led by Stuart Hendry, along with Alexander Lamley and Rachel Salmond.

“The MBM team’s experience in dealing with US investment was really helpful and their understanding made the process seamless.  We found them responsive and their advice was vital in closing the deal”, said Hugh Craigie Halkett, Founder and Managing Director of Stamp Free. “This investment enables us to conclude our product validation stage with a number of postal companies.”

The Company also received grant funding from Scottish Enterprise (SE) and benefited from advisory support through SE’s High Growth Ventures programme.

The Stamp Free Digital Postage Solution™ allows businesses and consumers to use the Stamp Free app and send parcels, letters as well as return consumer goods without the need for a postage stamp or print at home postage.

In addition to the funding, the firm has also appointed two new board members. Alan Barrie who was previously Director of Operations for the International Post Corporation becomes Chairman. Chris Galley, previously CTO of Accesso Technology, takes on the role as Technology Non-Executive Director.

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