Irish Investment Network - Angels are a blessing in hard times

Greg Kelly could be excused for wondering whether rumours of the demise of Ireland’s wealth are somewhat exaggerated. When he went looking for a business angel, a private investor with the cash to fast-forward his company’s growth, he scored not one but two.

His firm, Stratum, designs bespoke software for the transport and environmental sectors at off-the-shelf prices. Last month it secured €240,000 in equity investment from two private individuals.

To get it, Kelly, who set up the firm with his brother Brian in 2007, simply posted details of his company and its funding requirements onto the Irish Investment Network website.

Stratum launched on the market in November last year, funded initially by Kelly’s redundancy money from a job at Trintech and a county enterprise board grant matched by his bank manager.

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