Investing Women Angels (IWA), Scotland’s first all-female angel investment syndicate, has led a £195,000 equity investment round into merchandise technology platform developers terrible*.
The UK-based supply chain company supports a variety of creative industries in the UK, Europe and the US, creating, sources and delivering merchandise relevant to their clients’ audiences, which is sold both online and in-person at events.
Using specially developed technology, the terrible* platform facilitates payments and logistics, as well as accumulating sales and inventory data for artists and brands.
The company currently has more than 700 clients on its roster, including Roisin Murphy, PJ Harvey, King Krule, Jai Paul, Professor Green and Black Country, New Road.
As lead investor, IWA managed the funding round, which also included other individual angel investors.
The funds will go towards further development of the online platform and key hires to help drive continued growth and expansion, particularly into the US market.
Since its inception, terrible* has developed a close relationship with IWA and its sister company AccelerateHER. Its chief executive Tersha Willis was named among the winners at the 2020 AccelerateHER Awards, celebrating emerging female founders.
IWA member Pamela Barclay will also join the company as its investor director and take a seat on the board.
She said: “IWA is immensely proud to be leading this investment to support terrible*.
“We have been impressed by Tersha, whom we got to know through her involvement in the 2020 AccelerateHER Awards, and the wider team behind the company.
“These additional funds will enable further development of its technology platform which will help drive further growth of the business into new sectors and across the US and other global markets.”
Willis added: “We're delighted to secure the confidence and support of IWA and to welcome Pamela onto our board.
“2023 has already seen a period of exciting growth and expansion, so we look forward to working with Pamela and IWA to ensure the rest of the year and beyond continues in the same vein.”
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