NOQ Group, a West London event tech startup, announces a £3.4m funding round but chooses not to disclose its investors.
- Founded in 2019, NOQ Group provides solutions for managing event planning through their platform.
- The startup recently collaborated with Charlton Athletic, enhancing its profile in the sports sector.
- NOQ’s CEO, Param Kanabar, states the funding is crucial for advancing their POS and payment systems.
- The lack of investor disclosure is notable, given the usual transparency in startup funding rounds.
NOQ Group, a startup based in West London, has recently declared the successful closure of a £3.4 million funding round. While such financial triumphs are typically celebrated with full transparency regarding the parties involved, NOQ has taken the unconventional route of not revealing its investors.
Since its inception in 2019, NOQ Group has been at the forefront of innovating event management technology. Its platform facilitates the management of vouchers, loyalty programmes, payments, and more, streamlining event operations for organisers. Such advanced solutions have attracted partnerships, including a notable one with League One’s Charlton Athletic.
The significance of this funding cannot be overstated, as confirmed by NOQ Group’s CEO, Param Kanabar. He highlighted the substantial nature of this financial backing, emphasising its role in further developing an efficient point-of-sale (POS) and payment solution tailored for multi-vendor events. This strategic move is aimed at equipping organisers with tools that enhance operational efficiency and revenue streams.
Despite the positive developments, NOQ Group’s decision to withhold the identities of its investors is unusual. The company justifies this by stating that, at the seed stage, there is no obligation to disclose such information. However, this stance raises questions, as the practice of disclosing investors is generally seen as a mark of credibility and confidence in startup ecosystems.
Adding to the intrigue, NOQ states it has raised an aggregate of £5.1 million since its launch but is similarly reticent about revealing its prior backers. Companies House documents do disclose 35 shareholders, including Seedrs, suggesting a broader investment community involvement.
NOQ Group’s decision to withhold its investors’ identities, despite securing significant funding, highlights a non-traditional approach within the startup investment landscape.
