Venture co-founded by Postgraduate Diploma in Entrepreneurship alumnus secures funding in under a week of launching on Crowdcube
Computing and processing automobile mileage claims is often a hassle for employees and companies alike, so an alumnus of the Postgraduate Diploma in Entrepreneurship (PGDE) programme at Cambridge Judge Business School has launched a company – AutoTrip – to enable business mileage to be recorded and submitted automatically.
PGDE alumnus, Alexander Nicholson, reported that AutoTrip has just completed on an equity crowdfunding campaign on Crowdcube, which saw £150,000 raised from over 120 investors.
AutoTrip, which was co-founded by Andrew Wordsworth (Managing Director of Sustainable Ventures) and Alexander, simplifies the process of mileage expense claims through a cloud-based mileage-tracking device that can be plugged into either the car’s cigarette lighter or on-board diagnostics port. The device saves on business mileage costs by reducing the administrative time spent on claims, and through using the accurate data generated to eliminate the possibility for mileage inflation.
Alexander, who has five years’ experience working with start-ups in the cleantech and travel sectors, said:
Starting a business and growing one requires continuous learning. The PGDE helps to focus your learning, and provide robust foundations from which to build from. Most importantly, the unique design of the programme, which encompasses mentoring and reflexive learning, supports the development of a mind-set orientated around growth and endless improvement. Having now completed our crowdfunding round, AutoTrip looks forward to a journey of continued growth and development.