Two North East tech entrepreneurs have joined forces to create a new business.
Neil Stephenson and Stuart Bramley, who are active angel investors and the driving force behind ecommerce agency Mira Marketing, have added Sales Magnet, an order and payment processing service, to their portfolio of brands.
The pair have worked with Yorkshire-based partners Jordan Robinson and Maurice Boschke to develop a new online service which fills a gap in the payment processing sector. The company is aimed at smaller professional services companies who want to move online and tech businesses who take regular recurring subscription fees from customers.
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Sales Magnet’s services links with global software giants Hubspot and financial services provider Stripe to provide a complete solution. The business, based at Hoults Yard in Byker, Newcastle, has been privately funded. Co-founder Neil Stephenson - who has been involved in a number of tech start-ups and scale-ups since selling Onyx Group in 2016 - said the company is now making plans to recruit permanent tech and commercial staff in Newcastle as it looks to become the latest Tyneside tech success.
He said: “We believe the launch of Sales Magnet will disrupt the online order and payment sector, with a comprehensive service which is easy to adopt and modestly priced with no usage based fees. Simple to implement and cost effective to operate are key drivers in the market for entrepreneurs looking to enhance their own online presence.
“Connecting directly to market leading CRM service Hubspot and payment provider Stripe makes the service attractive to huge numbers of local companies who already use those platforms. We aim to grow this business rapidly and are excited by the feedback we have already had from our early stage customers.
“We have plans to grow out the service from its initial offering and can see this becoming a significant business in the medium term. The glocal market for online payments has continued to grow at over 8% per annum since the Covid-19 glocal pandemic and shows no sign of stalling as the world moves towards a cashless society.”