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20th September 2019

Hereford-based Stok.ly secures £200,000 Midven investment

MEIF investment will be used to grow Stok.ly sales and customer service teams, and invest in business development

Hereford-based Stok.ly has secured a £200,000 investment from venture capital firm Midven, using equity finance from the Midlands Engine Investment Fund (MEIF).

The firm, which was initially established in 2015, specialises in providing ePos, stock control and multi-channel solutions for UK retailers. Stok.ly was founded by Managing Director Iain Coplans and Technical Director Dan Preece who came together to develop a proficient and easy-to-use software platform.

Stok.ly provides a solution for large and small retailers that have struggled to integrate ePos and stock management systems from different vendors with their own websites, Facebook, eBay and other online retail channels.

The funding is to be used by the firm to implement its growth strategy, with investment being made into expanding its sales and customer services team alongside its business development function.

Iain Coplans, Managing Director of Stok.ly, said: “We found the process with Midven very professionally managed and thought provoking. Many helpful ideas emerged regarding our company structure and commercial strategy through our conversations with Gio and the team.

“We intend to use the funding to grow our sales and customer services teams and invest in business development to acquire new sales leads. We are very focused on expanding our customer base, while continuing to help our existing customers get more out of Stok.ly.”

Along with its investment, Midven has introduced an experienced financial manager to bolster the Stok.ly team.

Giovanni Finocchio, Investment Director at Midven, said: I was initially intrigued by why and how an early stage business based in Hereford was winning the custom of both large and small retailers. I quickly realised the founders knew their market, issues that retailers faced with the traditional software offerings and aimed to resolve this with a fully integrated cloud-based solution.  

“I was also impressed with the ease of use of its comprehensive software, and after reviewing the company’s growth strategy, I was convinced that this would be a good investment for our MEIF equity fund to make. I’m looking forward to working with the team and supporting the company as it grows.”

Ken Cooper, MD at the British Business Bank, said: “supporting businesses like Stok.ly to build and expand key areas such as sales and business development, are such important steps to growing a business and a key objective of the fund.”

Paul Hinkins, chairman of the Marches Growth Hub which supports MEIF in the region, said: “The economic prosperity of this region depends on companies such as Stok.ly being able to access the finance they need to thrive and expand. The Marches Growth Hub and the Marches Local Enterprise Partnership have made this a key priority and I am delighted to see it bearing fruit in this way.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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