Maven leads £5.3m funding round for E Fundamentals

Maven used its VCT funds for the minority stake.

Downing Ventures, Scottish Enterprise and several private investors also participated in the round.

The firm was introduced to the company by existing investor Downing. Maven will take a seat on the board.

The fresh capital will be used to expand into more regions, including a launch in the US.

Previous funding
Downing first backed the company in 2017. The firm invested again in January 2018 via its Downing EIS and Downing VCT funds, leading a £2.5m series-A.

Company
London- and Edinburgh-based E Fundamentals is an e-commerce analytics platform that helps companies improve the sales and profit performance of their products on retailers' and wholesalers' websites. The company was founded in 2014 and employs 32 people, according to LinkedIn.

People
Maven Capital Partners – Gareth Price (investment director).
Downing Venures – Richard Lewis (investment director).
Scottish Investment Bank – Kerry Sharp (director).
E Fundamentals – John Maltman (CEO).

Advisers
Equity – Gateleys (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Maven Capital Partners
• Venture