£300k Cash Boost for Liverpool Software Company

24th July 2006

A Liverpool software company is set for expansion thanks to backing totalling £300,000 from Merseyside Special Investment Fund’s Liverpool Seed Fund.

Tradeasi has moved to Merseyside from Shropshire and supplies innovative new software for the retail sector that is designed to revolutionise the way sales and stock are controlled.

The hand-held pocket sized gadget – which looks like a Blackberry - is made by O2. Orders are transmitted direct from the device to Tradeasi headquarters in Liverpool city centre – immediately letting the client know that a sale has been made. Using the latest in global satellite technology, it also allows superb stock control, and can ensure essential data compilation – for example, identifying the need to move stock from a surplus to fill a need elsewhere.

Tradeasi is now in talks with several major global corporations who are keen to benefit from the new technology.

Managing Director John Morley was the former IT director of Lego before leaving to set up Tradeasi. He said: “We have a groundbreaking product with a combination of technology and service that means clients all over the world can save time and money. We are delighted to have moved to Merseyside. The backing from the Liverpool Seed Fund means we are now in a position to expand our customer base and grow rapidly.”

Management expect to turnover to hit £1m over the next year and predict the number of staff employed at the company to rise from six to 40 over the next two years.

Darren Gowling, Investment Director of the Liverpool Seed Fund, said: “We are pleased to be supporting Tradeasi. Already there appears to be a huge demand for this cutting edge product which has global potential.”

Tradeasi worked closely with Liverpool Ventures, which provides support for businesses backed by the Liverpool Seed Fund.

Steve Nesbitt, chief executive of Liverpool Ventures, said: “Tradeasi is an impressive company with a strong management team and a truly innovative product.”

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Pic shows (L to R): Darren Gowling (Liverpool Seed Fund), Steve Nesbitt (Liverpool Ventures) and John Morley (Tradeasi)

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