Synapse Agrees Funding to Acquire Clearview – Round Now Set to Close

(Capital At Risk)

Synapse has agreed non-dilutive funding of £750k working capital to accelerate the integration and sales ramp up of Clearview and in the process, signal an end to the current equity round.

With the Clearview deal done, Synapse will add 40 additional clients to its business, tripling its current customer-base, doubling existing revenues and reducing overhead by circa £200k pa.

Management believes the deal will underpin a jump in the company’s valuation of circa 2-3x, giving existing shareholders maximum value in a very short space of time.

They also believe the acquisition will make the company extremely attractive for institutional funding Рa strategy familiar to CEO Brian Donnelly, who has previously built and scaled a worldwide software company (70 Blue Chip Customers, 160 Staff, sold to IBM) headquartered in Silicon Valley.

Brian has indicated he intends scaling Synapse in a similar but bigger way.

With revenues of over £6 million since 2014, Synapse has created and is successfully selling a scalable SaaS (Software as a Service) product, which allows large companies to use their existing financial reporting systems, whilst automating report production, reducing operational costs, and improving data quality.

Existing customers love the technology and other large corporations, including the Bank of England, have been in discussions with Synapse, with the view to adopting it.

Sales are moving along very nicely for the business and the acquisition of Clearview should strengthen the company’s position in terms of attracting institutional funding and potential exits for shareholders.

A small number of shares are still available for Synapse, but with news of the £750k capital injection, the opportunity is set to close imminently.

https://www.shadowfoundr.com/investments/541/synapse-2018