Posts Tagged ‘St. Louis Arch Angels’

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St. Louis, Mo., Oct. 8, 2012… FinServe Tech Angels, which recently joined forces with the St. Louis Arch Angels to become part of the Arch Angels network and further strengthen angel investing in the St. Louis region, recently made their first investment in a local startup. FinServe, which was established earlier this year and has operated independently under the St. Louis Arch Angels since Sept. 1, has invested $250,000 in St. Louis-based aisle411, a mobile technology startup. The St. Louis Arch Angels had previously invested over $580,000 in aisle411, bringing the total funds the company has accessed through the Arch Angels network to $834,536.

Founded in 2008, aisle411 is the first company to market a mobile shopping application that allows consumers to find and map product locations in retail stores. aisle411 provides a comprehensive in-store search and navigation solution for consumers via mobile technologies with support for iOS and Android devices. The application is monetized through targeted mobile advertisements pushed to consumers while a purchasing decision is being made.

“Mobile technology is dramatically changing how people conduct financial transactions, and the FinServe membership is pleased to make our first investment in a company disrupting this space,” said Rick Holton, Jr., an original member of FinServe Tech Angels who also serves as General Partner at Cultivation Capital.

The aisle411 team has developed partnerships with top brands, including Coca-Cola, General Mills, and McCormick. Over 9,000 indoor maps are powered by aisle411, with top retailers that include Walgreens and several grocery store chains. More retailers are in final discussions with aisle411 to join the platform soon.

“I am pleased that the first investment made by FinServe’s members is in a St. Louis-based company, and one that is already a part of the St. Louis Arch Angels portfolio,” said Kyle Welborn, executive director of FinServe and head of due diligence and membership recruitment for the Arch Angels. “Since FinServe joined the Arch Angels network last month, it is exciting to see how our closer relationship is already leading to the syndication of local deals, helping companies get the financing they need to grow and succeed in the region.”

Both the St. Louis Arch Angels network and FinServe Tech Angels work to provide seed and early-stage capital to local entrepreneurs, with FinServe focusing on financial services technology startups. The alliance formed last month has allowed members of both groups to broaden their focus and invest in more companies in the St. Louis region, while also helping to attract startups from other regions to the area and further improving St. Louis’ entrepreneurial climate. Both FinServe members and Arch Angels members have dual membership in each group at no additional cost and are able to view and invest in companies presenting to both organizations.

“The new partnership between the Arch Angels and FinServe is clearly already yielding results within the angel investing community,” said Gil Bickel, chairman of the St. Louis Arch Angels. “We are thrilled to see this additional investment in such a promising company as aisle411. We look forward to working with our expanded network of angel investors to continue to advance the innovative companies that are taking root here in the St. Louis region.”

For more information, visit the St. Louis Arch Angels website at www.stlouisarchangels.com or call 314.444.1151, or visit the FinServe Tech Angels website at www.finservetechangels.org or call 314.677.1132. For more information about aisle411, visit www.aisle411.com.

For more information, contact:

Julie Hauser, The Hauser Group (314) 436-9090

Chris Walsh, St. Louis Arch Angels (314) 444-1151

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