Octopus, Calculus lead £3.6m round for Fiscal

Octopus has drawn equity for the investment from its Apollo venture capital trust, which manages £30m. The VCT has made more than 10 investments since June 2018. Calculus manages a number of Enterprise Investment Scheme (EIS) funds.

The deal was sourced by Toronto-based VC firm ScaleUp Ventures.

The fresh capital will go towards expanding in the UK and the US, and product development.

As part of the transaction, Edward Keelan, an adviser from Octopus Investments, will join the Fiscal board.

Company
Headquartered in Reading, Fiscal sells its NXG Forensics enterprise software, which seeks to provide continuous protection through transactional risk analysis, supplier risk profiling, anti-fraud controls and ongoing reporting. The company was founded in 2003 and generated more than £1m revenues for the year to March 2019.

People
Octopus Investments – Richard Court (head, development capital).
Calculus Capital – Richard Moore (co-head, investments).
Fiscal Technologies – David Griffiths (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Octopus Investments
• Venture