12 March, 2015
Bournemouth-based technology start-up FusionWiFi has worked with Steele Raymond LLP and taken the leading commercial law firm’s advice and support on the latest round of investment into FusionWiFi to help drive its ambitious plans for growth.
Fusion’s captive portal technology enables venue owners to give their customers access to free WiFi using social media authentication – or “Social WiFi” – in return for which the venues gain access to valuable marketing data. It can be used by any company with public-facing customers, including pubs, bars, restaurants, coffee shops, stadia, car dealerships and shopping centres, and has even been installed throughout the town centre by Bournemouth Borough Council.
In a short space of time Fusion’s “Social WiFi” product has become widely accepted in the hospitality industry, enabling the business to achieve sustained growth and put itself clearly on the map as a capable player in the technology industry. The product is now being rolled out worldwide with plans for it to be installed in thousands of venues. New product features are also in development to be unveiled soon.
Adam Troman, Managing Director of Fusion Wifi, commented:
“Bournemouth is a great centre for technology companies, helped very much by Bournemouth Borough Council’s forward-thinking approach to its infrastructure and support for local technology SMEs. Bournemouth also has a top tier law firm in Steele Raymond, who have proven themselves from the outset to be knowledgeable, reliable and dependable, offering us invaluable expert advice on a wide range of complicated legal matters.”
Steele Raymond’s Company & Commercial team are well versed in acting for members of Bournemouth’s booming technology sector, and helping start-ups like Fusion to set up in business and allow those companies to take funding through initiatives such as the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) – designed to help small, early-stage companies raise equity finance by offering tax reliefs to individual investors who purchase new shares in those companies.
Nick Davies, a Partner at Steele Raymond, said: “We’ve been fortunate to work with FusionWiFi since the business was incorporated in 2013. Initially we advised on the shareholders’ agreement and more recently the taking of SEIS investment to raise vital funding for growth. It’s been fantastic to see the rapid success Adam and his team have achieved, and we’ve been proud to support them in making sure the business continues to fulfil its potential.”