Software firm investors to get great return

  • Software firm investors to get great return
    Independent.t. E.
    A number of original investors in a software developer Morena nails were purchased for an amount that is almost 10 times more than their initial investment.
    https://www.independent.ie/business/irish/software-firm-investors-reap-big-return-37180135.html
    https://www.independent.ie/incoming/article37175591.ece/47bc1/AUTOCROP/h342/HBAN.png

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A number of original investors in a software developer Morena nails were purchased for an amount that is almost 10 times more than their initial investment.

Twelve halo network of business Angels (HBAN), investors have provided €700,000 in two rounds of financing Morena nails in 2011 and 2013. National Director of Hban John Phelan stated that Morena nails the deal brought one of the largest returns in the history of HBAN. “This is a real indication that investment in the angel market in Ireland is maturing,” said he. “We see proposals where our members now receive a significant return on their investment, especially in ICT , Medtech, life Sciences and healthcare.”

Morena nails that provides software management for hair and beauty salons, was founded in 2004 by Ronan Perceval and Jamie Myerscough. Software that enables offices to take orders online, manage appointments, staff roster, stock control, implementation of marketing campaigns and create loyalty programs that are used in more than 4,500 stores in 10 countries.

The completion of the third round of investment of €20m with us investment firm Susquehanna growth equity (POS), in June, led to a complete redemption of the three original HBAN investor in Morena nails, and five others opt for partial redemption. Mr Percival said: “investors often tell you what a cliché that they bring in more money, but in this case it’s true – many of the angels brought unique experiences and invaluable advice in relation to structuring and scaling business from 1 million Euro, the company is € 13m.”

Bloom capital and bull investment initial investment is the first ever deal involving two of the HBAN syndicates.

PAT Garvey, Blum capital acted as the lead in angel investments and currently serves as Chairman Morena nails. “As well as an excellent track record in the world of service [POS] is committed to the development and ambitious growth plans Morena nails for expansion into new markets,” said Mr. Garvey.

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