Edge invests in children’s activity app Hoop
HMT LLP undertook financial due diligence for Edge Investments on their investment in a marketplace which helps families find and book organised local actives for kids. Edge and the Business Growth Fund invested £4 million in the business.
Founded in 2016, Hoop helps families discover and book fun organised local activities for children; from kids raves and baby and toddler groups to swimming lessons, drama classes and arts and crafts.
Since launching in 2016 the Hoop app has been download over 750,000 times and was voted the “Best App of the Year” by Apple in both 2016 and 2017. Over 10,000 activity organisers are currently listed on the platform, listing over 70,000 events and activities for kids each month.
The £4 million Series A round led by Edge Investments includes further investment by the Business Growth Fund, following an earlier BGF Ventures led round of £2.4 million in 2017, and will support Hoop’s plans to solidify market share in Britain and position the Company for expansion in the US.
HMT undertook financial due diligence on this transaction.
Niall Santamaria, Investment Manager at Edge commented:
Paul Read commented:
“We are delighted to have advised Edge and BGF on their investment in Hoop. Hoop has rapidly become the must-have app for parents. With Edge’s expertise in the events and technology sectors, and this series A investment, the business is on the right track to achieve its global growth plans.”
We are passionate about delivering an optimal outcome for our clients and helping them achieve their personal objectives. We understand entrepreneurial businesses because we are oneOur Deals
Partners are supported by high-calibre professional staff who share our core values of enthusiasm, energy, entrepreneurialism and empathy to our client’s objectivesOur Team
Our Partners have unparalleled deal experience in the mid-market and are supported by a team of dedicated deal-doers with specialist capabilities and experienceOur Awards
We have an extensive network of acquisitive corporates, institutional investors and debt providers both in the UK and internationally though our membership of our global network ICFGOur Network