Member Article

Italian foursome secure investment for dating app

Four Italian entrepreneurs who founded a dating app from their Teesside base have secured funding from the Finance for Business North East Angel Fund.

‘Tangle’ aims to simplify the online dating process and allows users to meet real people from real-time encounters; a step-ahead of the casual, randomly-generated ‘matches’ on competing sites and apps.

The idea weaves traditional dating concepts and claims to save users the “embarrassment of the first approach,” while facilitating contact with acquaintances.

It allows those looking for love to think back to a time where someone caught their eye (but passed them by), and act on it; whether at opposite ends of a crowded train carriage or in the queue for a bustling coffee shop.

Tangle’s creators have secured an undisclosed sum from the Fund, managed by Rivers Capital Partners, and plan to take advantage of growing market of busy, young and tech-savvy singles.

Dr Michael Dickens, who led the investment team at Rivers Capital, praised the pioneering approach of the Tangle Lab team.

He said: “Not only have the Tangle team developed a truly original idea, they follow a stringent business model that makes their ambitious goals for growth seem readily attainable now they have secured the funding to enable them to grow and develop.

“The dedicated and supportive fund managers are working closely with the inventors of the Tangle concept to ensure that the innovative plan is exercised with total financial security, providing for unhindered growth and large-scale success.”

This was posted in Bdaily's Members' News section by Tom Keighley .