THE DEAL:
Glide Utilities Limited is an energy and telecommunications company specialising in supplying tenants, landlords, letting agents and property developers in the UK.
Glide was set up by Sandeep Krishan and James Villarreal in April 2006 whilst they were still at the University of Birmingham. Glide has ambitious plans to roll out its services to students, young professionals, landlords and letting agencies across the UK. Glide started by offering services to University of Birmingham students in Birmingham but the concept quickly took off and Glide found themselves with customers in most major cities. As a result Glide now has much bolder plans.
The founders personally funded the start up of the business and were initially supported by a grant from the University of Birmingham’s Honeypot fund to help them get the business off the ground. Help from Business Link provided consultancy support to enable the directors to put together a strong business case for corporate finance.
Glide engaged Cattaneo LLP to provide corporate finance advice on development capital funding. After working with the founders to groom the business and prepare a full business plan Cattaneo LLP advised on a £0.5 million fund raising.
The founders of Glide had a great business idea and their energy, enthusiasm and drive as young entrepreneurs was impressive. With support from local investors they have secured the funding that they need to move to the next phase of development and roll the business out nationally.
WHAT OUR CLIENT SAID:
‘We were introduced to Cattaneo LLP and the advice and support we received through the fund raising process was invaluable. Cattaneo’s flexibility in taking some of their fee in shares really showed a strong belief in our business and it doesn’t stop there as Charles has continued to support us with sound advice as the business has developed’
James Villarreal, CEO
