£200k boost for software company

L-R: Paul Jones, senior investment manager at British Business Bank; Anna Staevska, investment manager at FSE Group; Keith Banwaitt, CEO of Tappter; Alexandru Antonica, lead frontend developer at Tappter and John Acornley, chair of the advisory board of the Cornwall and Isles of Scilly Investment Fund. Photograph by Janna Dixon Photography

Cornish software business Tappter has secured a £200k equity investment from the Cornwall and Isles of Scilly Investment Fund (CIOSIF) as part of a £400k funding round.

The CIOSIF investment, along with match-funding from existing and private investors, has been used to set up a base in Falmouth, and will create high value jobs to benefit the regional economy.

Established in 2016, Tappter’s app is a multi-channel messenger with ID verification and e-sign features. The business is currently targeting the residential sales and lettings market, allowing businesses and customers to communicate with multiple parties involved in the housing process.

An estate agent can use the software to communicate with a buyer, while also using it to speak with solicitors and conveyancers. Broader expansion of services and markets is expected in the near future.

The brainchild of Keith Banwaitt (CEO) and Demetrio Filocamo (CTO), Tappter released an early beta version of the product which was used in a pilot project with the Entrepreneurial Spark programme within NatWest.

Banwaitt commented: “Messaging apps are the primary method for communication between individuals. It makes sense that businesses should see the value in this trend and seek to duplicate its ease and ingenuity. We’ve mimicked the simplicity of popular messaging apps to make sure business and individual users have a seamless and simple experience, but the back end is anything but simple.

“Every communication need is met, from verifying IDs and document management to recording chat histories and providing the software as either a mobile or web app.

“The potential of Tappter is exciting and plain to see. With that in mind we are using the CIOSIF funds to open a new operational base to facilitate our growth and expand our team.”