Powered Now, a Devon-based technology start-up, has raised £585,000 on crowdfunding platform Crowdcube, outstripping asked-for funds of £350,000 by 67 per cent.

The business has created a customer relationship management (CRM) app for tradespeople which helps them with important administrative tasks including communications, quoting, invoicing and taking payments.

The app is designed to run on smartphones and tablets, therefore making life easier for sole traders and small businesses that don’t have regular use of an office or desktop computer.

Powered Now will use the money to pay for a new marketing drive and to develop its platform. In all 165 people invested in the businesses, taking a total 30.26 per cent equity stake. Individual contributions ranged from £10 to £85,000.

Powered Now CEO Benjamin Dyer said: “We are thrilled with the success of our angel round and the number of investors who have chosen to get involved during our short listing on Crowdcube.

“With this funding we can grow the business substantially and help improve the lives and profits of field trade companies.