A Plymouth tech firm has seen its turnover hit £2.5million as the coronavirus pandemic created an e-commerce boom.
IT and investment company Vertical Plus saw nearly all of its 50 client businesses generate increased sales due to the demand for home shopping.
The company, headquartered at Plymouth Science Park, invests in e-commerce businesses with potential and in return gets a percentage of their sales.
This investment includes building clients’ platforms, their inventory and their market edge by providing all-encompassing strategic consultancy, inventory and technical support.
“It’s performance -based selling,” said sales director Justin Smith.
David Gadd, Vertical Plus chief executive, said: “We think of ourselves as investors. Some call us an agency, some call us an IT company, but we don’t give them (partner firms) cash, but do give a website and fully managed service.”
Clients include Plymouth-based and national firms such as Roof Giant, jewellery company Catherine Best, and The Pet Express.
With lockdown forcing the closure of “non-essential” retailers Vertical Plus has seen its clients’ e-commerce turnover hit £25million through its platform.
Mr Gadd said 48 of the firm’s 50 clients had seen turnover double during the past year. He said: “The increase in turnover for most of our partners has double and in some cases trebled.