Up to $30 Million Investment by Mayfair 101
London, United Kingdom – 25 March 2019 – Accloud plc, the technology firm focussed on empowering micro-SMES through its cloud-based business services platform, is pleased to announce it has received up to $30 million of investment from Mayfair 101, an international investment and corporate advisory group and a longstanding shareholder in Accloud.
The investment will help accelerate the roll out of Accloud’s platform across India, where micro-SME’s and micro-micro-SME’s make up the majority of the business landscape but are unable to realise their full growth potential due to limited access to capital, resources and new markets.
Ross James, Founder and CEO of Accloud commented:
“This investment by Mayfair 101 is further validation of the Accloud strategy and the opportunity we see to empower millions of micro-SME’s and micro-micro-SME’s in India, allowing them to grow their businesses and prosper. By giving them access to business management tools and an e-commerce trading platform for the first time, we can help unlock the value of India’s ‘informal economy’ and stimulate economic growth across the country.
“Mayfair 101 has worked closely with us as an investment and advisory partner for nearly four years and we are delighted to have their continued support. We are confident that this partnership will continue to provide new exciting opportunities for the company, and the businesses we support.”
James Mawhinney, Managing Director of Mayfair 101, commented:
“Since Mayfair 101 and Accloud first forged our relationship in 2015, we have seen both the compelling investment opportunity and the scale of the social impact Accloud’s platform can offer micro-micro-SME’s. We are delighted to provide the necessary capital to support the development and roll out of the Accloud platform and the expansion of the ecosystem.”
Notes to editors
Accloud plc, founded in 2015 and headquartered in the UK, empowers micro micro-SME’s by offering business management tools through its integrated cloud-based platform to manage and grow their businesses. The Accloud platform offers user-friendly and affordable support to accelerate micro SME growth in rural communities, as well as the ability trade and network with other micro micro-SME’s. The platform is being rolled out across India, the world’s fastest growing major economy with 51 million registered micro micro-SME’s and millions more unregistered, and will be scaled across high growth economies, expanding the Accloud SME ecosystem globally.
To serve its international customer base, Accloud has offices, development centres and hosting facilities in the UK, India, Switzerland and Australia. Please see more information here.