CLN brings welcome breathing space to delivery company

Sean Murray and Alan Hickey of Webringg

Company: Webringg

Done deal:€650,000 Convertible Loan Note

The clincher:“This allows us the freedom to develop the company and get a more realistic value on it before we raise an equity round” – Alan Hickey, co-founder, Webringg

On-demand delivery start-up Webringg has secured a Convertible Loan Note (CLN) of €650,000 from private sources, including Ergo founder John Purdy, who is joining the company’s board as a non-executive director.

“What the CLN does is give ...