Tag Archives: Seedrs Review

Holiday survival guide from Seedrs

Still looking for the perfect last-minute gift for your loved-ones this holiday season? You’re in luck! We’ve compiled a list of offers, last-minute gift ideas and shopping tips for the savviest of gift-givers, from some of the most indulgent and interesting Seedrs-funded businesses.

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Seedrs Case Study: SomethingIndie

SOMETHINGINDIE
“Handpicked selection of the best indie and independent brands”

something indie

We sat with Wendy van de Weg, Director of SomethingIndie, to learn more about what she has been up to since successfully raising funding through Seedrs earlier this year.    

Investment Raised: £20,000    Equity: 10%                                Days to Full Investment: 71
Number of Investors: 67         Average Investment: £299       SEIS Eligible: Yes
Location: Greater London        Sectors: Retail, Fashion and Apparel

What is SomethingIndie?
SomethingIndie is a unique online fashion store stocking affordable, on-trend items by independent brands and handmade designers.

For customers, it offers affordable fashion items with a mix of unique finds and on-trend pieces, all hand-picked by the SomethingIndie team. For designers, it provides an opportunity for them to stock their items on a niche website with wide appeal.

Why SomethingIndie Needed Investment
“I decided to raise investment to fund a year-long, more targeted marketing campaign and to extend the website’s functionality.”

Role of Seed Enterprise Investment Scheme (SEIS)
The Seed Enterprise Investment Scheme (SEIS) allows investors to claim up to 78% of the amount of their investment back, up front, through income tax and capital gains tax reliefs.

“(I think) SEIS was extremely influential when raising my round. I’m pretty sure it was a deal-maker for most investors, given the young age and potential risk of the business.”

Why Seedrs?
“I found the funding options to be very, very limited and often ridiculously costly for startups, especially if the business owner falls outside of the ‘young adult’ age group. Seedrs is a rare opportunity for companies looking to grow, to find funding and has a clear way of working, both for investors and entrepreneurs. I was really excited at the prospect of Seedrs as I realised it could be the break my business had been unable to get elsewhere.”

“Since then, my experience with Seedrs has been nothing short of wonderful.”

Experience with Seedrs
“Everyone I’ve dealt with is helpful, friendly and, above-all, encouraging. It’s been quite a learning curve but I’ve felt like any assistance or clarification I needed was just an email away.”

Top Tip to Other Entrepreneurs
“Always remember that in the early stages, YOU are your startup’s greatest asset. Don’t forget to spend time away from your business, whether it’s a weekend visit to your folks or an afternoon at the gym. It’s hard to not devote all your time and energy to working on your business, but if you’re burnt out and exhausted then so is your startup. A happy, healthy entrepreneur is a happy, healthy startup!”

Next Steps
“I’m very busy now that we’ve been successful in our funding! Working on getting the new website ready is my priority, after which I’ll be working on a year-long marketing plan to help grow the brand’s profile and generate more organic PR and traffic.”

To learn more about SomethingIndie or to follow their journey, visit their website at somethingindie.com.

Seedrs Case Study: PlayEnable

PlayEnPLAYENABLE
“The Toptable for sports: An online hub for visitors to search and book gyms and facilities around them”

We met with Abhishek Garodia, CEO and co-founder of PlayEnable, to learn more about what he and his team have been up to since successfully raising investment through Seedrs this Autumn.      

Investment Raised: £25,000      Equity: 5%                                Days to Full Investment: 92
Number of Investors: 68           Average Investment: £368     SEIS Eligible: Yes
Location: Greater London          Sectors: Consumer Internet, Marketplaces & Platforms

What is PlayEnable?
“PlayEnable is best described as a TopTable for sports and fitness classes. It is an online forum/marketplace where sports and fitness enthusiasts can find places to participate in fitness activities around them, and ultimately book and reserve the activity they want to participate in. Activities range from a one-off yoga class to regular kickboxing or dance classes.”

“The ultimate aim of PlayEnable is to help people participate in activities, no matter where they are, and for sports facilities to improve their reach to sports enthusiasts.”

Why PlayEnable Needed Investment
“There are costs associated with developing a quality website platform, mobile app and basic marketing. The investment would essentially be used to build a solid minimum viable product so as to get some traction – hopefully leading to future investment rounds.”

Role of Seed Enterprise Investment Scheme (SEIS)
The Seed Enterprise Investment Scheme (SEIS) allows investors to claim up to 78% of the amount of their investment back, up front, through income tax and capital gains tax reliefs.

“Actually, while I knew PlayEnable would need funding irrespective of SEIS, given the fact that the scheme is extremely favourable for investors, I did make it a point to mention the benefits to every potential investor when I got listed on the website.”

Why Seedrs?
“First, the personal factor was very important. After speaking with their CEO, Jeff, and saw how easy it was to reach them, it was almost a no-brainer for me. I liked that I was able to receive guidance throughout the process and was very happy with the support I was offered.”

“And, the simplicity and the lack of platform “frills”. This suited my business at our early-stage, especially since I was only looking for a small investment to build a minimum viable product. Some of the other equity crowdfunding sites required too much irrelevant information (such as detailed financial projections and elaborate marketing plans) – information which I could have very easily drafted, but were akin to shooting in the dark. Instead, I was able to put relevant, factual information onto the site, quickly, and focus on building my business, instead.”

Experience with Seedrs
“For early-stage startups like mine, I would highly recommend Seedrs. The team works very hard to engage investors, both online and off.”

Top Tip to Other Entrepreneurs
“Keep your business aims simple. Set yourself and team very clear, measurable goals and work out what the journey may look like to achieve them. And don’t get too distracted along the way.”

Next Steps
“Next, we’re going to use our funding to accelerate the product building process and execute an exhaustive online marketing campaign. We should have a mobile app and be ready to test our facility management CRM by early-February 2013. And, are looking to invest in online marketing to build traction and ultimately drive sales.”

To learn more about PlayEnable or to follow their journey, visit their website at playenable.com.

Seedrs Case Study: Storemates

smSTOREMATES
“The ‘eBay of storage’ enabling households to rent their extra space to people needing cheap storage”

We sat with Shaff Prabatani, co-founder of Storemates, to learn more about what he and his team have been up to since successfully raising investment through Seedrs this Autumn.      

Investment Raised: £40,000    Equity: 10%                                Days to Full Investment: 6
Number of Investors: 34         Average Investment: £1,176    SEIS Eligible: Yes
Location: Greater London        Sectors: Consumer Internet; Marketplace, Building & Property

What is Storemates?
Storemates is an online service that aims to match people needing affordable self-storage with people looking to turn their spare household space into extra cash. Users use the website to rent out all or part of a garage, loft, wardrobe or spare room to people searching for cheap storage in their local area.

Storemates hopes to democratise storage – making it more accessible, easier to find and vastly more efficient than traditional self storage.

Why Storemates Needed Investment
“Storemates is a new concept. It’s a disruptive business model that needs to persuade people with storage needs to use our online storage sharing market as an alternative to the very established (and expensive) self-storage business. We need to pilot some marketing campaigns that will get people talking.”

“After we launched our beta version, we found that we needed to further develop our payment process.”

Role of Seed Enterprise Investment Scheme (SEIS)
The Seed Enterprise Investment Scheme (SEIS) allows investors to claim up to 78% of the amount of their investment back, up front, through income tax and capital gains tax reliefs.

“Learning that the Government had incentivised investing in new businesses with SEIS, we thought that Seedrs offered a great opportunity for small time investors to not only benefit from the reliefs, but also learn more about Storemates and be a part of our mission.”

Why Seedrs?
“We knew that our idea had great business potential, but we never seemed to have enough traction and were too early in our development to appeal to many potential investors.”

“Seedrs was recommended to us by an investor who advised us that we were at the seed investment stage and thought our concept was ‘easy to get’ for potential investors.”

“At an insightful and encouraging initial meeting with the Seedrs team, we quickly formed a great working relationship with them.”

Experience with Seedrs
“Very positive. They’re supportive and encouraging of us, their processes are transparent and clear, the customer care is excellent. We always felt confident that Seedrs believed in our concept and our potential and drive to make a return for investors.”

Top Tip to Other Entrepreneurs
“Keep your business aims simple. Set yourself and team very clear, measurable goals and work out what the journey may look like to achieve them. And don’t get too distracted along the way.”

Next Steps
Beyond reaching out to their new network of investors for input and suggestions, Storemates now plans to redevelop their payment process to more effectively monetise the platform, establish strategic alliances with other companies operating in the sharing economy, setup a localised system of community storage brokers to enhance word of mouth promotion and launch a series of three targeted marketing campaigns.

To learn more about Storemates or to follow their journey, visit their website at storemates.co.uk.

Seedrs Case Study: GigDropper

updated_GIG-Dropper-Logo_Color-12-13 (1)GigDropper
“Location-based music discovery service”

We had a chat with Ross Evans, founder of GigDropper, to learn more about what he has been up to since successfully raising investment through Seedrs this Autumn.      

Investment Raised: £30,000    Equity: 35%                                 Days to Full Investment: 79
Number of Investors: 66         Average Investment: £455        SEIS Eligible: Yes
Location: Liverpool                   Sectors: Mobile, Location Based Services, Music, Social Media

What is GigDropper?
GigDropper is a location-based music discovery service that would allow bands or performers to upload songs at specific real-world locations, which would subsequently be available to anyone using the GigDropper app on their phone at that location.

A GigDrop is a song or collection of songs that would be uploaded onto the platform by an artist. These GigDrops would be tied to real-world locations. So, a Beatles cover band could GigDrop some of their tunes to the Cavern Club in Liverpool or a jazz band could release their new single at a local jazz bar.

GigDropper wants to make it more enjoyable for music-lovers to discover new music that will most
likely be of interest to them and wants to make it easier for bands to share their music with a new
audience.

Why GigDropper Needed Investment
“To fund initial platform development – taking GigDropper from the concept stage through to full beta launch, as quickly as possible.”

Role of Seed Enterprise Investment Scheme (SEIS)
The Seed Enterprise Investment Scheme (SEIS) allows investors to claim up to 78% of the amount of their investment back, up front, through income tax and capital gains tax reliefs.

“I figured it would significantly de-risk investment in GigDropper, increasing the appeal of my early-stage company to a broader audience of investors. It made it a much more appealing investment opportunity to more investors.”

Why Seedrs?
“Since my application relies on the web, I thought reaching out and offering a bit of my business to fellow music lovers (who would also use GigDropper) online was a great idea.”

Experience with Seedrs
“So far, so good. Everything has been as straightforward as I had expected. And, anything I’ve been unclear about, we’ve been able to clarify via email within a couple of hours.”

Top Tip to Other Entrepreneurs
“Given the way the funding landscape is changing, giving more people the chance to invest in your venture, funding pitches should be written to appeal to a more mass audience. The marketspeak lexicon cuts little ice in the crowdfunding world. Keep it simple.”

Next Steps
“We’ll be working hard towards a timely launch to capitalise on all of the social media interest in GigDropper that arose from raising capital online with Seedrs. We’ve now built a community of fans who want to use Gigdropper and share it with their networks.”

To learn more about GigDropper or to follow their journey, follow their tweets @GigDropper.

Seedrs Case Study: Swogo

Swogo LogoSWOGO
“Helping consumers make the best purchase decision”

We sat with Anthony Ng Monica, CEO and co-founder of Swogo, to learn more about what he and his team have been up to since successfully raising investment through Seedrs this Summer.      

Investment Raised: £17,500         Equity: 5%                                 Days to Full Investment: 10
Number of Investors: 45              Average Investment: £389      SEIS Eligible: Yes
Location: Greater London             Sectors: Consumer Internet, Review and Recommendations

What is Swogo?
“Swogo is a free and simple way for consumers to make the best purchase decision.”

“Choosing the right product can be difficult. It requires expert knowledge and over 75% of consumers become overwhelmed by technical jargon. It takes a lot of time researching reviews, specifications and prices across several sources; and with new products constantly released, it’s almost impossible to stay up-to-date. On average, a consumer takes three weeks to purchase a
laptop. Swogo aims to bring this down to less than 60 seconds.”

“Swogo’s online service asks consumers a series of simple questions about their desired product, which allows a proprietary algorithm to determine their individual needs. Based on this information, Swogo recommends the best product for that user. What calculators do for maths, Swogo does for purchases.”

Why Swogo Needed Investment
To help expand their technical team so they could develop a marketable, minimum viable product (MVP).

Role of Seed Enterprise Investment Scheme (SEIS)
The Seed Enterprise Investment Scheme (SEIS) allows investors to claim up to 78% of the amount of their investment back, up front, through income tax and capital gains tax reliefs.

“Initially, SEIS did not play a large role in influencing our desire to seek funding, as we were always planning to do so – we needed capital. However, it made the process considerably smoother, as it further incentivised existing investors, who were now able to securely invest more capital, as well as increasing the appeal to the mass affluent.”

Why Seedrs?
“When I worked as an Intern at Seedrs a few years ago, it was clear to me that they truly wanted to revolutionise the way startups raise investment. I believed in the team.”

“As a predominantly B2C startup looking to raise idea-stage capital, we thought it would be ideal to use an equity crowdfunding platform. Since we try to solve a common consumer problem, we liked the idea of opening up investment to consumers (and potential future users). We wanted to see if our idea would be further validated by ‘the crowd’ as opposed to an institution or a few angel investors.”

“And, because Seedrs is FSA authorised.”

Top Tip to Other Entrepreneurs
“Many entrepreneurs are protective over their idea. Don’t do that. Be prepared to talk about your idea. We’ve received some fantastic input from the general public, experienced entrepreneurs and investors.”

Next Steps
The investment raised through Seedrs has allowed the founders to focus their work full-time on Swogo, contract a UI designer and hire a development team. In November 2012, Swogo beat out 49 other young businesses to win first place at the NACUE Varsity Pitch Final and officially launched their platform in the UK in December 2012.

Learn more about the Swogo team and their new platform at swogo.com.