Local businessman and entrepreneur Stuart Maclaren announced last month that he was seeking external equity investment in his company YPP Group Ltd, which includes the well known printing business Your Print Partner. Today the pitch has gone live on crowd funding website crowdcube.
Currently in a 7 day private viewing period, the pitch is hidden from public and only available to those with a direct link. However, the award winning young businessman was keen to give local investors first opportunity to benefit from the pending EIS tax relief, only available to the first £150k of investment. Managing Director Stuart Maclaren told CityX:
“I’m a local Lincoln lad, I started and built my company right here, it would be fantastic if as many local investors as possible could take a look and consider investing in me.”
The main purpose of the investment is to build on the success of Christmas retail e-commerce website Santa Sacks and create an all year-round personalised gift company ‘CustomGifts.co.uk’. An online shop selling a wide range of personalised gifts, into a market reportedly worth £1bn in the UK alone.
Having been live for only a morning, investment has already reached £25,000 of the £500,000 target with more anticipated to be added to the pot in the near future. Stuart added:
“Since the crowdfunding idea was reported on CityX in June I’ve had a lot of interest from local investors and I think we’ll reach £100k before it goes public on crowdcube.”