A north-east tech company that helps customers organise events by finding them DJs, musicians, caterers and marques has just received a £120,000 boost.
Poptop, an online database, uses an algorithm to put party planners in touch with a wide variety of entertainers, services and products.
Poptop was set up by two Ukrainians – event planner Eugene Shestopal and website developer Ignat Tkhoroskiy – who moved to Newcastle in 2015.
The company has now won £120,000 worth of funding to expand in the north east. £100,000 has come from north-east venture capitalists Northstar Ventures and £20,000 has been provided by a business angel investor.
The company intends to use the cash to expand its development and customer service teams.
Mr Shestapol said, “Despite being an international team, we are proud to call ourselves a north-east business.”
“The tech community in the region is one of the strongest we’ve come across, with well-networked hubs like Campus North providing a great surrounding for growing our company.”
“There’s a strong digital infrastructure in the north east and we’ve been able to build better relationships with our investors as a result.”
“Newcastle is also a city filled with students – it makes recruiting talented graduates much easier.”
Poptop asks its customers to complete a questionnaire about the event they would like to plan. The answers are then put through an algorithm to help Poptop suggest the most appropriate suppliers.
Northstar Ventures said,
“The UK events industry is estimated to be worth £39 billion yet there are few options available for individuals who are looking to book suppliers themselves.”
“Poptop provides customers with support and advice without the prohibitive costs usually associated with an events management service.”
The North East seems to be emerging as a growing tech sector hub. A recent report from Tech City UK rated the tech sectors of both Newcastle and Sunderland highly. Durham-based mobile banking start-up Atom Bank, meanwhile, has recently received a £135-million investment boost.