One of London’s most well-known Pentecostal churches, The Tab in Lewisham, south London, showed its support for businesses recently by collaborating with lending firm, Fortress Capital, to host Angels’ Den, an event where business owners pitched for financial investment. The event was organised by The Tab’s Business forum.
Six businesses took part, of which three were successful, winning investment totalling £100,000.
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, the three other businesses received support from the investors, which included website design and business consultation sessions.
Mike White, Senior Pastor of The Tab, said:
I feel really proud that we’ve been able to support some innovative businesses in this way, especially when investor purse strings are tight.
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.
The Angels’ Den panel included Ashley Reading, CEO of Fortress Capital Partners and member of the Tab Church. Ashley has over 30 years’ experience in financial services. He sold Bounce, the life insurance company he founded in 2016, for an undisclosed 7-figure sum in 2021.
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 how the day ended. “It was nerve-racking 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.”
Visit www.thetab.org.uk for more information.