White Star Education Limited (07867627): administration
- Status
- Administration ended
- Administration began
- 2020-01-22
- Administrators' firm
- Antony Batty
- Formerly
- Intcas (UK) Limited; Amlaps (UK) Limited
- Incorporated
- 2011-12-01
- Location
- London
- Industry
- 66190 Activities auxiliary to financial intermediation n.e.c.
Why it went into administration
- Loss of key people
From the administrators' statement
White Star Education Limited formerly known as INTCAS (UK) Limited was incorporated on 1 December 2011. The Company was set up by Zakaria Mahmood who had extensive experience in the education sector. Prior to setting up the Company, Mr. Mahmood had done detailed research in various parts of the world on the issues, risks and concerns surrounding students wishing to study abroad. Based on this research, Mr. Mahmood identified a market for an online platform that would enable students to apply to several universities registered on the platform with one application. The platform was to include features to help identify potential academic qualification, visa qualification and financial issues, to mitigate risks to various parties involved with students studying abroad and to ultimately include a number of “communities” with vested commercial and other interests in students using the platform.
Mr. Mahmood put up an initial £50,000 to cover the costs of doing the research he did and in 2013 undertook an initial seed funding raise to begin the technical development of the platform and of commercial opportunities the platform potentially offered. The seed funding came from individual investors who contributed some £200,000 to move the business forward.
By January 2014, the seed Funding was running out with no team yet hired to actually build the platform and Mr. Mahmood raised £50,000 in toan funding to keep the business progressing and another £25,000 in loan funding in May 2014. Towards the end of 2014, Mr. Mahmood had identified what he believed was the best way to build the platform — engaging a London-based software development company to do the work to his specification — and he raised another £300,000 in equity funding to bankroll this next phase of development.
Administrators' statement of proposals (2020-02-13) · Companies House register