eCommerce startup, Mercarto, has announced a deal to bring UKFast CEO Lawrence Jones on board as a business partner and 50 per cent shareholder.
Lawrence is set to provide ongoing financial support, alongside business guidance and mentoring, as Mercarto plans the next phase of its growth.
The Mercarto platform offers up-and-coming entrepreneurs the opportunity to create an end-to-end online retail business without the risks normally associated with launching a business. Mercarto Founder and CEO, Sean Brown is enrolled in the Tech Manchester mentoring programme, backed by UKFast.
Sean said, “when Mercarto joined the Tech Manchester mentor programme in March, the level of support was beyond all expectations. Through Tech Manchester I had the opportunity to meet Lawrence. He has a real interest in eCommerce, so there was synergy from the first time we met. He understood what I’m doing and immediately saw the opportunity.
“There are a number of other investment funds interested in Mercarto, but it’s not just about the cash injection. I want a business partner who adds genuine value and has equal interest in the business.”
The investment is already paying off, with the startup creating more Manchester jobs and bringing in its first two hires: a full-time UX developer and full-time PHP developer. Mercarto now boasts more than 100 stores, following a soft launch earlier this year.
Mercarto enables you to launch an eCommerce website in minutes. The platform manages every aspect of ordering and customer service, with store owners taking up to 40 per cent profit on products sold. All users have to do is name their store, select the products they wish to stock, and launch – they then drive sales by marketing the store through their own networks.
Lawrence Jones, UKFast CEOadded, “Sean is an exceptional young entrepreneur and Mercarto has the potential to be a massive success. In the short term it enables entrepreneurs to spin up small businesses with zero friction and we see opportunities to use our agility and innovation to challenge the enterprise platforms like Shopify and Magento.”