Field Fisher Waterhouse advises OrSaveIt on venture capital funding
22 October 2012
Field Fisher Waterhouse LLP has advised
new mobile app business,
OrSaveIt on a venture capital
funding which will fund the development, roll-out and
marketing of the savings business' new iPhone app and website.
The OrSaveIt app allows users to "impulse
save". Every time a user chooses not to spend money, the
amount which has been saved is automatically transferred into a
savings account. Users are able to specify particular savings
goals they are working towards.
The Field Fisher Waterhouse team was led by
Corporate partner
Laurence Lumb assisted
by senior associate Tom
Ward. The team advised the founders and the
company on all areas of the deal including the formation and
start-up of the company through to securing and closing the equity
investment. Financial
Services partner Nicholas Thompsell assisted by
senior associate Andrew
Massey also advised on the regulatory and financial
services aspects of the structure of the platform, whilst IP & Technology Partner Leighton Cassidy assisted by
associate Georgina
Harris advised OrSaveIt on trade mark and brand protection
matters.
Alain Desmier, CEO of OrSaveIt said: "The
business of taking and holding a customers money is a complicated
and heavily regulated business and the team at Field Fisher
Waterhouse produced clear, on budget and on deadline advice for us.
Their advice and subsequent regulatory work forms the core
part of our money saving platform, without which our business
simply wouldn't exist. Field Fisher Waterhouse worked with us
from the start of our investment process and were vitally important
in helping us close the agreement."
Laurence Lumb said: "Mobile apps continue to
push technology innovation forward and we are pleased to have
advised OrSaveIt on this interesting and unique product. The
firm is well placed to advise entrepreneurial and creative
technology businesses in the TMT sector with clients that
include Facebook, BBC and Connect TV."
For further information, please
contact:
Paula
Nugent, PR Executive, Field Fisher Waterhouse LLP on 020 7861
4526
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on 020 7861 4120