Angel Bank

Mass market software on a pay-as-you-go basis

This company provides Software as a Service (SaaS) via a pay-as-you-go model, eliminating the need for capital expenditure on licence costs.

Vision: To become a major supplier of SaaS-based products and services, by providing a ‘white label’ service to resellers who are already in a position to attract large numbers of customers. It is anticipated that a trade sale would be possible within a 3 to 4 year period.

Objectives:
Achieve a significant turnover and profitability through this partner model
To continue to add products for resale through these channels, thereby increasing revenue streams

Initial funding required: £188,000

Funding required for: Product and platform development. Sales and marketing

Revenue targets:
Year 1: £400,000 
Year 2: £1,100,000
Year 3: £3,000,000-plus

Product range: Software, initially Microsoft products. For example, Microsoft Office at a monthly rental of £35

Gross profit margin: 35% on average

Full business plan? Yes

Marketing strategy: Mainly via partners such as teleco/ISP companies, existing established suppliers of IT services and solutions, and trade organisations.

Biggest competitors are: Nasstar plc, Salesforce.com

Ideally, an investor would also have strong financial expertise.

The founder has over 30 years experience in the software/IT marketplace, with roles in sales and sales management and at director level. And he started one company which was later sold to a major plc. He has now created close alliances with Microsoft and NTT Europe Online for this business.

Business Profile: P1015

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