Last week saw the first speedpitching event in 2009 run by Angels Den,  an online matchmaking service which connects entrepreneurs to potential investors. Co-founder Lois Cook, founded the company with her partner Bill Morrow in May 2007, when they themselves had trouble securing funding and wasted almost £15k on traditional angel networks.

Since its launch Angels Den has completed 122 deals with a combined investment sum invested of more than £25 million. For £99 up to £499, business plans, can be posted online which are then accessed by the 2000 plus registered potential investors.  The site now has the largest number of angel investors in Europe and almost a fifth of its customers have secured funding.

According to its own account, these are the benefits:

• Angels Den is an affordable (half the price of competitors), straightforward way (none of the stuffiness of traditional angel investment) of connecting people requiring funding with a potential investors.
• It is an inclusive service as any entrepreneur can join and present a business plan.
• Angels Den has the largest number of investors in Europe.
• Since it was founded in May 2007, it has 2000 registered angels, 7000 start-ups and registered businesses and has completed 122 deals, which have had an average investment of £220,000.  The combined investment sum invested is more than £25m.
• Angels Den complements the services offered by existing business angel groups by facilitating deals with a value of up to £500,000.
• Angels Den has pioneered Speedpitching: a ground breaking networking event where entrepreneurs pitch their business ideas on a one to one basis to a number of interested business angels (3 minute pitch).
• Almost a fifth (17%) of Angels Den customers have received funding to date; ten times the national average.
• On average people who have submitted Business Plans have had at least one Angel meeting and some have as many as 7 Angels to choose from.
• 214 Angel investors sign up to the Angels Den site, on average, a day.

The next Speedpitching event is on Wednesday 4 February in Central London from 6 – 9 pm. To attend entrepreneurs must have registered with Angels Den and have posted a business plan online.