EIS Deadline extension: 29th March 2023

Due to high demand, we have extended the Enterprise Investment Scheme (EIS) application deadline from the 24th of March to Wednesday 29th March 2023.

With tax year-end approaching, many of your clients will be thinking about investing to reduce their income tax bill.

Tax-efficient investments offer a fantastic way to diversify an existing client's portfolio. This extension still gives you time to reduce their income tax bill for the 2021/2022 tax year through our EIS ‘carry back’ option.

There's still time before Tax Year End, apply online today! Our advanced tech-led approach to allocation means we can remain open to investments for longer, so we still have time to help your clients.

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Updates and Highlights from our investee firms:
EIS and VCT Portfolios

We wanted to provide you with an update on some of the companies in our investment portfolio that have recently made significant progress. They have continued to demonstrate their potential for growth and have achieved some key milestones in the past few months:

1. Tended, which offers a safety wearable device which helps to prevent workplace accidents and fatalities, has won at the Rail Business Awards – taking home the Safety and Security Excellence award for its geofencing safety technology, and has separately been listed as a finalist at the prestigious British Safety Industry Federation Awards.
   
   The company has announced that both Network Rail’s North East routes as well as Wales and Borders have started using its Geofencing technology to improve trackside safety.
   
2. Culture Shift, which helps report, monitor and address bullying and harassment in the workplace, has been recognised as a UK's Best Workplace for Wellbeing.
   
   It also announced that at the end of 2022, it hit £1M Annual Recurring Revenue (ARR) and had hit a total of 90 customers, meaning Culture Shift has surpassed 1.9 million people reached through the platform.
   
3. Currensea, a fintech that offers a low FX fee travel debit card for high street bank accounts has won the best currency travel card award from moneynet.co.uk for 2023 and recently announced a partnership with Dogs Trust, offering branded cards to the largest canine charity in the UK.
   
4. Transreport, which provides a suite of SaaS products to train and transport operating companies, had a visit from Hankyu - one of the largest rail operators in Japan - sharing the best ways to support disabled people in public transport.
   
   This comes as Transreport announces its intention to enter the Japanese market following successful proof of concepts with leading Japanese railway companies. Jay Shen, founder of Transreport, was also recognised as one of the Top 100 Asian Stars in UK Tech.
   
5. Placed, a talent attraction and recruitment platform for the services industry, has announced new clients including Prezzo, Revolution Bars, The Langham Compass Group and Costa Coffee.
   
   The company also announced that application rates are 4-7x higher than traditional job boards, 3x higher conversion rates to hiring and in some customers up to a 70% drop in recruitment costs.
   
6. Proprli, an asset and ESG management platform, announced its exclusive partnership in the United States with Intuitive MB, LLC, a healthcare property technology solution, which will integrate Proprli into its Smart Hospitals platform.
   
   The company also announced its increasing international presence with its first Polish customer – Colliers Poland.
   
7. Edozo, which provides mapping and commercial real estate data to valuers, developers and architects was announced as a finalist in the Santander Technology Business of The Year at the Growing Business Intelligence Awards.
   
8. Spotless Water, which provides ultra-pure water through its network of filling stations, announced its growth through a number of new stations, including Slough, Chippenham, and Willenhall – solidifying its position as the UK’s leading self-service pure water distribution network.
   
   The company has now crossed the milestone of more than 100 active stations across the country.
   
9. Teamed, which offers companies the ability to hire and manage employees internationally, has launched its new website and branding and Antony Vallee, founder of the company, was featured live on Sky News discussing its fundraised with Blackfinch.
   
10. Odore, which provides brands with insights into customer intentions and shopping habits, has announced a partnership with ON A MISSION, a non-profit that will allow Odore and its customers to offset carbon emissions.
    
11. Clientshare, a SaaS platform to manage client relationships, announced that it had witnessed growth of over 500% in 2022 from its Pulse product.​​​​​​

Blackfinch Spring VCT and EIS Portfolios now open for investment

Now’s the time to be talking to your clients about investing tax-efficiently before the end of the tax year.

Investors can claim a 1.0% discount on Blackfinch Spring VCT applications received before 3pm on 3rd April 2023.

Our next EIS application date is 29th March. Any EIS funds received and cleared by 24th March will be deployed in the current tax year, meaning you can elect for all or part of your EIS shares acquired in one tax year to be treated as though they had been acquired in the previous tax year.

Find out more, and apply online, for our Blackfinch Spring VCT and EIS investments.

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