Duedil secures funding from Wonga’s Jonty Hurwitz
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Duedil has finalised a second-round investment from Wonga co-founder Jonty Hurwitz and reveals it has rejected several acquisition offers.
Duedil has finalised a second-round investment from Wonga co-founder Jonty Hurwitz of an undisclosed sum.
The start-up, which has previously raised financing from VCT Passion Capital, is one of the largest databases of free company financials (with over 20 million sets of company accounts on file).
Duedil’s CEO Damian Kimmelman exclusively tells GrowthBusiness: ‘The financing was for a minority stake in the business and we cannot wait to utilise Jonty’s technical expertise.
‘We received several pre-revenue acquisition offers of around £20 million which we rejected but accepting investment from a man of Jonty’s pedigree was a no brainer; he built Wonga into one of the most successful start-up businesses of recent times.’
Duedill’s HR Andrew Connolly says: ‘Hurwitz sees massive potential for business growth in big data analytics. He will bring both his technical and strategic expertise to Duedil, which he hopes will develop into the premiere source of business information in the world.’
The investment represents a major step for the company, which only launched six months ago, and Duedil have high hopes for 2012. Kimmelman adds: ‘We will release completely new chargeable features next year and as well as improving our current service to the UK and Ireland, we plan to expand into Europe.’