Leeds tech startup BigChange launches £2m fundraising round

Big Change Apps, the Leeds-based company behind the ‘Jobwatch’ technology that helps manage, schedule, and track mobile workforces and transport operations, is embarking on a new £2m fundraising round.

The new funds will help the company expand its R&D and marketing, and deliver a new product launch.

BigChange achieved sales of £2m in its first year and is forecasted to achieve earnings of up to £4m by the end of 2016, with turnover projected to be £20m by 2020.

The growth of the company so far has attracted admirers including Paul Lancaster, an author and advisor to northern technology companies, claiming the venture to be “the next big unicorn” in reference to startups with a potential valuation of more than £1bn.

To raise £2m in capital, BigChange has launched its second round of fundraising via a sale of a 5% shareholding and bond issue, which are eligible under the tax-efficient Enterprise Investment Scheme.

Martin Port, CEO of BigChange, said: “This fundraising initiative is attracting a great deal of early interest and as a result, we’re in talks with a number of potential investors and financial institutions to help take us to the next level and continue to disrupt the mobile workforce sector in really positive ways.”

Over the past year, the company has secured contracts with the more than 300 customers, including names such as Impra Gas (owned and managed by Apprentice winner 2015, Joseph Valente), HSS, Serco, Elliott Hire and Baxi Commercial.

In addition, BigChange is also developing a new app focused on collaboration between service providers, subcontractors and their customers.

The new app will provide direct access to a market of 300,000 businesses, with an enormous potential to create new recurring revenues.