London cycling start up makes a beeline for Yorkshire advisors

Called BeeLine, the start-up company has developed an innovative handlebar-mounted satellite navigation device which is due to be launched nationally this autumn.

This follows a successful crowd-funding campaign by the co-founders, Tom Putnam and Mark Jenner, who are being advised by Robert Solyom of Leeds chartered accountants Brown Butler.

“This is a very exciting project – particularly as it is unusual for London-based start-ups to use Leeds advisers,” Mr Solyom said.

“BeeLine is a genuinely innovative and imaginative product and we are delighted to be working with Tom and Mark to get it rolling, so to speak.”

He said the money had been raised via the Seed Enterprise Investment Scheme (SEIS), which enables investors to claim 50 per cent tax relief on their investments.

Mark Jenner said: “It is thrilling to see your brainchild take shape after months of planning. Now that we have raised the finance, we are really looking forward to getting BeeLine into full production.”

Tom Putnam added: “Throughout the process, the advice we received from Robert Solyom has been invaluable and it has helped us to get to where we are now.”

Brown Butler is also preparing the company’s claim for research and development tax relief.

BeeLine is based at the technology hub, known as Silicon Roundabout, that has developed in the Old Street area of London.