South London Church Gives Businesses A Boost With £100,000 Investment
Fast-growing black-led church The Tab based in Lewisham granted three startups the cash injection they needed with an investment of £100,000. The businesses struck the investment deals as a result of pitching at the Angel’s Den event that took place at the church.
The owners of SignTech, NxSteps, and Jemz Cake Box were all successful in pitching to an expert panel at the Tab Church on Saturday 24th September. Paperless forms business SignTech received £60,000 in exchange for 10% equity, sports technology company NxSteps secured £25,000 for 10% equity, and baked goods company Jemz Cake Box received £15,000 for 10% equity. Additionally, three other businesses – The Education Warehouse and WeCar – received a suite of support from the angels, including website design and business consultation sessions.
The Angel’s Den event, based on the TV Dragon’s Den concept, was hosted by the Tab Church London in collaboration with lending firm Fortress Capital. It saw a range of small businesses with a turnover of up to £85,000 apply for the opportunity to pitch to the panel. Following the pitching, a networking session, gave the opportunity for attendees to meet and engage with investors, Venture Capitalists, funders, and other business owners.
“I feel really proud that we’ve been able to support some innovative businesses in this way, especially when investor purse strings are tight,” said Pastor Mike White, Senior Pastor at the Tab Church. “The investment that these businesses have received is not the end of this story. I can’t wait to see how these small companies flourish and grow, both through the cash investment and with the expertise of our business experts.”
One of the experts on the panel was Ashley Reading, CEO of Fortress Capital Partners and member of the Tab Church. Ashley has over 30 years’ experience in financial services and also co-founded The Juice Doctor, the UK’s first naturally isotonic sports drink with five-time Olympic Gold medallist Sir Steve Redgrave with full listings in supermarkets such as Sainsbury’s and Tesco. Ashley founded life insurance company Bounce in 2016, which he subsequently sold for an undisclosed 7-figure sum in 2021.
“I enjoyed being a part of this event because it reminded me of the challenges you have to overcome in the early stages of setting up a business,” said Ashley Reading, CEO of Fortress Capital Partners. “We chose to invest in these businesses because we believe in the vision of the founders and we have confidence in what they can achieve with the support they now have.”
As the recipient of the biggest proportion of the Angels Den £100,000 cash pot, Leke Babalola, CEO of SignTech was happy with the result of the pitch.
“It was nerve-wracking being in front of the panel and presenting my business but I’m glad that my pitch was successful,” said Leke. “This investment will be massively helpful in taking our business to the next level and growing in a significant way.”
Written by: Yvonne White
