Angel Academe invest in Clear Returns
Angel Academe has completed their third investment into a young Scottish firm that helps retailers to identify unpopular products has raised funds to expand its team and win more clients.
Clear Returns, which produces software that allows companies to monitor which goods are sent back by customers and why, has raised £220,000.
Vicky Brock, who started work on the business 18 months ago, raised £110,000 from Angels Den and Angel Academe, a network for female investors and mentors, which was matched by Scottish Investment Bank’s seed fund. More than 20% of the angels are female.
“The product scores customers on what they keep, not on what they buy. Companies get a better understanding of what their consumers want and like,” said Brock, 42.
The cash will be used to expand her sales team and to develop the technology. The Glasgow company currently has eight staff. In February it signed up one of Scotland’s largest retailers, the fashion chain M&Co, as a client.