Roam Local Limited, a digital high street marketing app company, has launched an offer for subscription to raise up to £600,000 under the Enterprise Investment Scheme and Seed Enterprise Investment Scheme.
The company explained that this offer will be for an equity stake of 20 per cent and will give a £3mn valuation for the company pre-raise.
Roam has received EIS/SEIS status and can provide investors with tax relief, from HMRC to operate as a holistic digital high street solution for local businesses.
The business offers marketing and engagement services designed to “empower businesses” and “reinvent” the high street experience.
It said the first £250,000, on a “first come, first served” basis, will offer the full range of SEIS tax reliefs, including income tax relief of 50 per cent, capital gains tax exemption, and inheritance tax relief.
The remaining £350,000 will offer the full range of EIS tax reliefs, including income tax relief of up to 30 per cent, capital gains tax deferral, and inheritance tax relief.
The minimum investment is £3,000 and commission of 3 per cent is offered to introducers.
Roam Local founder and managing director, Andrew Bartlett, commented: “Roam for business is not only designed to attract new customers, but to build loyalty and repeat business, providing a dramatic increase in profits.”
He added that the company has already launched the app in the north of England and in Northern Ireland but the money raised now will “help fund our national and international roll-out”.
Roam was created during the Covid lockdown to help “save our high street” by letting consumers “live like a local wherever they are”.
Roam's services
Roam provides a pre-populated platform which, it has claimed, promotes all retail, leisure, hospitality, heritage and cultural, health and wellbeing, and entertainment hotspots.
The company explained that businesses have the ability to claim and tailor their bespoke profile, allowing them to have greater control over their online presence.
Roam’s Business Hub, complete with a number of tools and services for businesses, also includes a feature for businesses to send direct customer push notifications via their profile.
The company claims this has proven to be a great way for businesses to engage with customers in real-time and drive consumer engagement, which can lead to increased sales and customer loyalty.
This allows them to integrate their marketing and social media, with the aim of reaching a wider audience, both locally and globally.
Bartlett, added: “I developed this app to help support Britain’s local businesses bounce back from lockdown so it’s great to see the success enjoyed by those which have started using it.
“We already have 150,000 active users, over 1,000 local business subscribers and over 100 strategic partners with sector influence.
“It’s not only a great way for local business to connect directly with customers, it’s also the ultimate travel guide for consumers, displaying everything you could possibility need when away from home.”
Bartlett said this includes restaurants, shops, nightclubs, local attractions and places of interest such as museums and historical buildings.