700,000 euros in funding for the billing and quote tool CoManage

Challenge:

In recent years, CoManage has grown in both users and turnover. Jeroen and Thomas saw a lot of potential, but lacked the time, knowledge and budget to market the tool properly. “We don't have the knowledge or network to find funding ourselves. Plus, none of us had the time to really dive deep into the numbers.”

Approach:

We drew up two scenarios for CoManage: a smaller, modest scenario, where we would work in phases, and an ambitious scenario, where we were looking for a lot more funding but would allow CoManage to grow explosively. Both capitalized on funds, business angels, and bank financing.

We spoke to various interested parties, almost all of whom indicated that they wanted to follow the ambitious plan. We also knocked on the bank's door. CoManage's positive track record and the commitment of other funders played to our advantage.

Result:

We raised 400,000 euros in capital, invested by LRM and a business angel. In addition, there was 300,000 euros of bank financing. So CoManage collected a total of 700,000 euros in funding, enough to follow the ambitious scenario.