Payaca, a Bristol software business revolutionising the way home improvement firms manage their workloads, has clinched £400,000 in funding, enabling it to create seven jobs over the next six months.
The firm has developed job management software that is successfully being used by more than 260 businesses to manage everything from creating interactive proposals with multiple payment options through to integrations with accounting software.
It has received backing worth £212,500 from 17 successful entrepreneurs who are members of Bristol Private Equity Club (BPEC).
Their funding has also unlocked £128,000 of further funding from Cambridge-based venture capital firm SyndicateRoom, with the remainder coming from individual investors.
Payaca CEO and founder Matt Franklin, pictured above, said: “This funding will help us scale up and take the business to the next level creating jobs for software developers and marketing specialists.
“At the moment, the business is five-strong and we expect to more than double staff in the next six months.” 
Bristol Private Equity Club founder Jerry Barnes, pictured right, said BPEC had supported this business with funding 12 months ago and was delighted to lead this second round to ensure that growth could continue.
“It means that 19 members have now invested a total of £430,000,” he said.
“Bristol is now well-established as a hotbed of tech ideas that can change the way that people do business in the future.”
SyndicateRoom co-founder Tom Britton added: “Payaca has shown positive early traction with clients looking to bring efficiency to their firms and has attracted investment from one of the UK’s top-performing angels and BPEC with whom we are delighted to be co-investing.”
BPEC has invested £9.2m into 26 local businesses in the past five years, £2m-plus of this in the past nine months.
Its members, who have grown to 105, are like-minded individuals with close ties to the city who can invest in, and support, local, fast-growth early-stage businesses with a range of skills and experience.
