NatWest #PowerUp Index 2019

| Ava Scott

The NatWest 2019 #PowerUp Index was revealed last week, showcasing the top 100 entrepreneurs from Natwest’s accelerator programme. This ranking pulled upon data points provided by Beauhurst, which we used to curate a list of outstanding companies, narrowed down from the nearly 1000 companies that have been supported by the NatWest Accelerator in its first cohort. The key data points included indicators of financial performance, such as total amount of equity raised, total amount of grant money awarded and the use of other long-term and short-term finance.

The NatWest Entrepreneur Accelerator is the bank’s comprehensive programme of fully-funded mentoring, insight and bespoke coaching, specifically designed to meet the needs of entrepreneurs who want to grow and scale their business. We were delighted to work with the organisation, which is the UK’s largest fully-funded business accelerator network.

The high-growth companies celebrated can be found using the Beauhurst platform, where their individual stories of growth and success are detailed, including equity deals, grants, accelerator attendances and financial accounts, amongst much more. Below you can find profiles of the top three companies in this inaugural #PowerUp Index. 

Oval Money

Oval Money develops mobile app software that helps users to save money as well as simplifying financial information.

Stage: Venture

Location: London

Latest pre-money valuation: £10.4m

Oval Money was incorporated in 2016, and held its first funding round the same year, securing £712k from undisclosed investors. It has now raised a total of £7.24m from a variety of funds, including crowd funding platform Crowdcube and family office Gruppo Bertoldi.

Nimble Babies

Nimble Babies sells a cleaning spray for babies’ milk bottles.

Stage: Seed

Location: London

Latest pre-money valuation: £1.5m

Nimble Babies has utilised both grants and equity to fund its growth, securing a £99.3k InnovateUK loan in 2017 and a further four seed-stage equity funding rounds, totalling a value of £369k.

Damson

Damson manufactures audio electronics such as speakers and headphones.

Stage: Venture

Location: Yorkshire and the Humber

Latest pre-money valuation: Unknown

Damson was founded in 2012, and first raised equity in 2013 with £825k from Equity Linked Investments, a fund managed by Finance Yorkshire. In total, it has secured £1.57m in equity and debt fundraisings and a further £95.7k in grants.

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