Lost Wax

This firm, which develops software for online auctions, secured financing of £5m from a group of business angels, which included Mike Harris, a director of Egg, the online financial-services giant.

Lost Wax sells its software to Egg, Orange, Sony and General Motors Online Finance. The company’s sales have grown 80% a year, from £492,000 in 1998 to £1.6m in 2000. Lost Wax also raised £3m from corporate backers in the summer. It expects to treble sales this year, although with big losses.

This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.

Company details
Year2001
Rank59
CompanyLost Wax
ActivityInternet software developer
LocationRichmond
Average 3 year sales growth80.13%
Latest sales £000s1,595
Staff26
Founded1996
Websitewww.lostwax.com

If applicable:

* supplied by company † annualised figure