KPMG takes stake in mobile apps specialist Chelsea Apps Factory

KPMG has entered a strategic partnership with mobile apps specialist Chelsea Apps Factory (CAF), which includes the consulting firm taking a stake in the firm.

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KPMG has entered a strategic partnership with mobile apps specialist Chelsea Apps Factory (CAF), which includes the consulting firm taking a stake in the firm.

Chelsea Apps Factory is the first partnership which will form part of KPMG’s Digital Innovation Network, an effort that aims to bring together KPMG’s industry knowledge with the creativity and design skills of early stage start-up companies.

CAF recently signed a mobile apps partnership deal with betting group Ladbrokes and has also previously done business with William Hill, Deloitte, Allen & Overy, Waitrose, Marks & Spencer and PWC.

The deal with CAF sees KPMG taking an initial equity stake in the business of 10 percent, which may grow depending on the amount of business both parties do together.

Alwin Magimay, head of digital and analytics at KPMG, said: “We created the Digital Innovation Network to build an eco-system of ideas and innovation in a new way that benefits our clients.

"By working closely with early stage tech companies, such as Chelsea Apps Factory, we can give our clients access to the hottest areas of mobile, cloud, cyber, social and analytics.”

The partnership with CAF follows last year’s opening of a permanent KPMG site in London start-up area Tech City and the launch of KPMG Capital, a global investment fund that will invest primarily in data and analytics businesses.

Mike Anderson, CEO of Chelsea Apps Factory, said: “I built this business from scratch three years ago because I am passionate about helping enterprises get mobilised.

"Our partnership with KPMG is the next step in our evolution. Being a part of the Digital Innovation Network means that we can combine our creative talent with KPMG’s industry and technology integration expertise, to offer our clients an unparalleled capability to mobilise business through a process of discovery and delivery.”

 
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