Gordons advises Northinvest on property e-procurement start-up investment
Tuesday 22nd December 2020
Gordons has advised an angel investor group on an equity investment in property procurement start-up, C-Link.
Founded in 2015 by Paul Heming and Chris Barber, C-Link has successfully raised a six-figure investment from private investors through investment non-profit, NorthInvest. Funding from this round will be used for further software development and expedite sales growth.
The start-up captured the interest of angel investors Steve Secker and Ian Stark, both members of the NorthInvest angel networks. Corporate solicitor, Amy Pierechod, advised the pair on their investment.
The C-Link platform simplifies the initial procurement process for SME construction companies and developers by connecting them with the best and most appropriate subcontractors for their developments. In a market ripe for disruption, C-Link’s ‘e-procurement’ platform helps users save time by automating low-value tasks, such as procurement procedures, defining contracts and automatically compiling relevant documentation. On average, C-Link users save £50,000 on every £1 million they manage on the platform.
Steve Secker, construction professional and a former MD at McCarthy Stone, said: “C-Link has the potential to revolutionise the way developers, main contractors and subcontractors interact on projects. The construction industry desperately needs to improve the efficiencies in the procurement process. This is recognised at a government level and C-Link offers a sophisticated solution that has the potential to be universally adopted. I look forward to being part of C-Link’s progress and supporting the business moving forward.”
Despite the uncertainty posed in the property markets by the COVID-19 pandemic, C-Link reached the milestone of over £100 million worth of projects managed through the platform earlier this year.
Amy Pierechod said: “At Gordons, we’re committed to working with NorthInvest investors to make the deal process as streamlined as possible, and it’s great to have been able to do that with this investment.
“It’s really rewarding to be able to support deals like this, which help connect northern investors with start-ups at a stage in their development where investment into the business can make a big impact.”
Paul Heming, co-founder of C-Link, concluded: “Construction is an archaic industry that needs change. Having managed teams of quantity surveyors responsible for £200 million worth of flagship projects, I understand first-hand the need to free up time lost on admin-intensive tasks. Over the past few years our small team has built software that has transformed the way SME property developers and main contractors manage construction procurement.
“We sought investment to help us grow more quickly; this round of funding is a major step in our fight to develop the way SMEs manage construction projects.”
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