# Investors see the ‘future’ in Birmingham Technology Start-up Synapse Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-04-28 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Birmingham Technology Company Raises £1.2 Million in Fundraising Meta Description: Discover how Synapse raised £1.2 million in funding, exceeded their target, and plans to revolutionise financial reporting with innovative technology and Tags: featured Tag URLs: featured (https://financedigest.com/tag/featured) URL: https://financedigest.com/investors-see-the-future-in-birmingham-technology-start-up-synapsehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd280418-1-1-1736842785328-compressed.jpg) _Birmingham technology company raises £1.2 million – 4 times the target amount in latest round of fundraising_ Synapse, the fast-growing Birmingham technology start-up that re-engineers spreadsheets to meet the stringent demands placed on financial reporting, announces today that it is in the process of completing a highly successful fundraising round in excess of £1.2 million. Working with two organisations to secure the funding – the UK’s premier investment platform, [Shadow](https://www.financedigest.com/euro-zones-shadow-banks-face-risk-of-margin-calls-ecb-says.html) Foundr and Central Business Finance, the business advisory firm  based in Birmingham – Synapse was initially looking to only raise £300,000 working capital but because investors were so impressed with the business, four times that amount has been committed. There is the now the potential to raise even more. With the additional funding, Synapse intends to recruit 20 new employees in 2018 to take advantage of [global opportunities](https://www.financedigest.com/sql-server-transformation-market-advanced-research-growth-opportunities-in-global-industry-by-2029fmi.html "SQL Server Transformation Market advanced Research & Growth Opportunities in Global Industry by 2029|FMI") and to invest heavily in R & D. The team is currently developing a ‘first of its kind’, end-to-end Statutory Accounts [Production](https://www.financedigest.com/skin-lightening-products-remain-sought-after-among-women-who-continue-to-account-for-80-of-sales-study.html "Skin Lightening Products Remain Sought-after among Women, who Continue to Account for 80% of Sales: Study") solution that will give companies the ability to generate their accounts in-house from source data held by their financial system, to add iXBRL tags and to file them directly with Companies House. This has the potential to [save businesses](https://www.financedigest.com/what-you-need-to-know-about-tax-savings-for-businesses-in-las-vegas-nv.html "What You Need to Know About Tax Savings for Businesses in Las Vegas NV") thousands of pounds every year in professional fees. The innovative technology developed by Synapse solves the massive problems associated with corporate [management reports and has first mover advantage in a market](https://www.financedigest.com/the-dysphagia-management-market-report.html "The Dysphagia Management Market Report") that is estimated by Gartner to be worth more than USD $10Bn. The Cloud CFO system allows allows staff to update spreadsheets remotely and simultaneously with a Cloud-based tool that automates [report production](https://www.financedigest.com/itv-shares-jump-on-reports-it-could-sell-stake-in-production-arm.html "ITV shares jump on reports it could sell stake in production arm"), reduces operational costs and improves data quality. Heath Lansbury, Chief Commercial Officer, Shadow Foundr, says: “Synapse is doing something totally different in the Corporate Performance [Management (CPM) sector and is helping to solve the massive problems associated with corporate management reports](https://www.financedigest.com/power-management-integrated-circuit-pmic-market-research-report-2022-global-forecast-till-2028.html "Power Management Integrated Circuit (PMIC) Market Research Report 2022 – Global Forecast till 2028"). The company is exceeding all milestones due to the vision and commitment of the founders and the highly qualified and passionate team. This fits perfectly with Shadow Foundr’s ethos, which is to give our [investors the opportunity to shadow the founders and share](https://www.financedigest.com/virgin-money-shares-leap-on-higher-profit-investor-payouts.html "Virgin Money shares leap on higher profit, investor payouts") in their success together. The fact that Synapse had already [generated £5m in revenue](https://www.financedigest.com/digitally-projected-revenue-to-be-the-unique-selling-point-of-next-generation-centrifuge-market.html "Digitally projected revenue to be the unique selling point of Next Generation Centrifuge Market") was a positive sign for our investor network from the outset.” Directors, Alison Bradley and Chris Brown of Central Business Finance have worked with Brian Donnelly, CEO and founder of Synapse, since its inception, accessing varying [sources of appropriate funding](https://www.financedigest.com/private-equity-funds-approach-italys-serie-a-to-explore-media-rights-deal-sources.html "Private equity funds approach Italy’s Serie A to explore media rights deal -sources") along the way;  “Achieving this funding package is a significant win for Synapse and the Midlands in general, providing the region with additional employment opportunities, a stronger economic output and confirming that the West Midlands is a thriving, progressive area to live and work. We are proud to have been able to assist Brian to achieve his expansion plans,” commented Alison Bradley, Managing Director, Central [Business Finance](https://www.financedigest.com/government-assisted-financing-schemes-for-small-businesses.html "Government Assisted Financing Schemes For Small Businesses"). Birmingham financial luminary Dr Steve Walker, Chief Executive, ART [Business Loans](https://www.financedigest.com/best-small-business-loans-speaks-to-fundbox.html "Best Small Business Loans Speaks to Fundbox") comments “With ART’s support, Synapse grew from a standing start to a £1.5m turnover enterprise employing 28 staff in just over three years.  They are exactly the kind of success story Birmingham needs, developing innovative technological solutions that help real-life businesses to compete and thrive in these challenging times. We firmly believe the company has an impressive [future ahead](https://www.financedigest.com/the-future-of-fintech-forging-ahead-with-digital-transformation.html "The future of fintech: Forging ahead with digital transformation") of it.” Brian Donnelly, CEO and founder, Synapse, adds: “This fundraising round, managed by Shadow Foundr, has been four times as successful as we anticipated. The technology never fails to impress would-be investors and delivers a quick to deploy solution that is helping businesses to make strategic decisions, more quickly and with more accuracy.” --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---