A digital start-up from Sheffield is close to securing £60,000 in a second round of investment – and is on track to start making money this year.
Online photo sharing site Twile hopes to seal the deal with three angel investors from Sheffield – business leaders Neil McDonald, John Cowley and Julie Kenny – and a London business angel syndicate in April.
If that goes ahead, Twile will hire a second developer and then gear up to pitch for £300,000 from venture capitalists four months later.
Two VC companies are said to be interested.
And if that comes off, the company will launch its plans to make money including a paid-for subscription that allows video uploads, photo printing on calendars and mugs and in-app purchases.
Twile was set up by Paul Brooks of Doncaster and pal Kelly Marsden almost two years ago.
They went through the first Dotforge Accelerator scheme – a digital bootcamp for start-ups – in Sheffield, which was backed by Plusnet founder Lee Strafford. Today Twile has 3,000 users.
Kelly said: “We are really excited about this year. People still believe in us, which is great.
“This latest round of funding will help us grow. We really have so many ideas and features that users have been asking for.”
Twile is a secure visual timeline that allows parents to safely share their family lives using photos, videos, sounds and milestones.
It allows users to upload photos to their own secure, invite-only, ad-free digital family album.
Lee Strafford, said: “Twile’s timeline is innovative and has the scale to reach global markets.
“It’s great that several angel investors are supporting this start-up it looks to be an exciting few years ahead,” he added.