Funding secured from Silicon Valley’s Dr Ronjon Nag and Cambridge Angels
Former senior executives at International Post Corporation and Royal Mail recruited
(Edinburgh, 11 March 2021) Stamp Free Limited, the digital postage stamp company, is pleased to announce the launch of its Stamp Free Digital Postage Solution™ (“The Solution”). Initially targeted at postal and logistics sectors, the solution is the first in the world to be offered by a company independent of postal services.
The Solution allows businesses and consumers to use the Stamp Free app and send parcels, letters as well as return consumer goods without the need for a postage stamp or print a postage stamp at home.
Highlights and Benefits of Stamp Free Digital Postage Solution™:
The Solution utilises machine handwriting recognition as a core part of its technology. The three key components are:
Digicode™ – Solution primarily for the consumer market
- Eliminates need to visit a shop or post office for stamps or printing digital stamps or label at home
- Customers can select the mail product (letter or parcel) and pay the exact postage amount via the Stamp Free app, or integrated postal carrier app
- The customer receives a Digicode which they write on the mail item, which is scanned/validated by the app
- Item to be mailed as normal
Shipcode™ – Solution primarily for business market
- Targeted at marketplace sellers, mail-room functions and small businesses who post frequently
- Eliminates requirement for the need of franking machines or parcel shipping solutions.
Easycode™ – Solution for consumer goods return market
- Aimed at making online product returns “easy” for customer and cost-effective for retailer
- Eliminates the need for returns labels included with products sold or printed off
- Customers wishing to return items purchased online, receive their Easycode via the Stamp Free mobile app or the retailer’s website, which they write on the item before returning it
- Items are returned at a local locker, drop-off point or posted
All three solutions also benefit the postal carriers by removing issues associated with postage stamps such as fraud, liabilities and cost of printing. By having access to data on the postings made through the app, ensures they are paid correctly for the items they handle.
The Company expects to launch Digicode into the market and develop Shipcode and Easycode over the next 12 months. The Company has filed a patent application for its Stamp Free Digital Postage Solution™.
Senior Management Team, Board and Advisors
Stamp Free is founded by serial entrepreneur Hugh Craigie Halkett and from Royal Mail he has been joined by Tim Higginbotham, as IT Director and Oli Pearce as Finance Director.
The Company is pleased to appoint Alan Barrie as Chairman. He brings with him in-depth industry experience having previously worked at the International Post Corporation as Director of Operations & Technology for 6 years. He is joined by Chris Galley, the former CTO of Accesso Technology Group plc as the Company’s Technology Non-Executive Director. Making up the team, the Board will be advised by Ian Jones former Chief of Staff reporting to the CEO of Royal Mail, and Miki Fairfax, Investment Manager and Business Angel.
Fundraising:
Stamp Free is pleased to announce that it has successfully raised £300,000 to ramp up commercial traction and further develop the Stamp Free Digital Postage Solution™. The funding was led by Dr. Ronjon Nag’s Silicon Valley based R42 Group, and high profile Cambridge Angels investors. The Company also received grant funding from Scottish Enterprise (SE) and benefited from advisory support through SE’s High Growth Ventures programme.
Stamp Free’s Founder and Managing Director Hugh Craigie Halkett commented: “This investment enables us to conclude our product validation stage with a number of engaged postal companies as we look to disrupt a market that has been rapidly expanding under COVID and will continue to do so thereafter”.
Dr. Ronjon Nag, stated: ”I am delighted to be investing in Stamp Free. I pioneered machine handwriting recognition and this is the best application of it I’ve seen – so we at R42 jumped at the chance to invest at this early stage and be part of the growth of the business. We wish them all every success.”
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