Schoolbook firm raises €100,000
KERRY-based Schoolbooks. ie has received €100,000 in funding to increase its art, craft and school-book stock in order to cater for demand from parents home-schooling during the coronavirus pandemic. The funds were raised through Linked Finance.
Established in 2004, the company aims to make buying school books easier and provide better value to hard-pressed parents.
This is the third time Schoolbooks.ie has used Linked Finance to raise funds and expand its business.
Paul McCann, managing director of Schoolbooks. ie, said: “Linked Finance has been our go-to loans provider in recent years. They understand our business and the needs of SMEs. The support we’ve had from them during the Covid-19 pandemic has made a real difference.”
Since the global pandemic first hit Ireland, Linked Finance has provided €5.2m in funding to small businesses across the country.
In March the peer-to-peer lender introduced a “Deferred Start Loan” for businesses affected by the coronavirus.
The 15-month loan allows firms to borrow up to
€100,000, with repayments due in 12 monthly instalments after the first three months.
Meanwhile, PlasmaBound, whose patented technology helps manufacturers reduce the weight of products and meet fuel efficiency and carbon emissions requirements, has closed a €1.1m investment round.
Investment in the UCD spinout was led by the Atlantic
Bridge University Fund, along with Enterprise Ireland, and a number of private investors.
Alan Barry, chief executive of PlasmaBound, said the funding “will enable us to further develop our firstgeneration product offering and support PlasmaBound as we scale globally.”
Legal counsel on the investment was provided by Flynn O’Driscoll.