Following eMoov’s highly successful campaign on Crowdcube, CEO and founder of #FundedClub member, Russell Quirk, revealed to the UK-based equity crowdfunding platform more details as to why it decided to go with the funding method.
While explaining what inspired him to launch the campaign, Quirk stated:
“With established VC heavyweights such as Robin Klein (Just Park) and Simon Murdoch (who shared my enthusiasm when I suggested the idea), equity crowdfunding had the stamp of approval from venture capital and fundraising experts. These guys are seasoned veterans who are driven to innovate and support people with ambitions to grab significant market share in age-old industries.
“After shopping around various options and structures I decided to go with Crowdcube and set the minimum target of £1m – taking inspiration from other big hitting crowdfunding rounds such as Sugru and Just Park. Our internal target was to match or surpass these campaigns.”
Also explaining how the Crowdcube initiative received so much attention, Russell noted:
“The marketing team was heavily involved in the crowdfunding campaign. This was because it was just as much about the exposure that the campaign bought to the company as it was about the money raised. We received unprecedented traffic and the round positively affected listings.”
In regards to eMoov’s success, Quirk added:
“The day we closed the round, and after a hell of a lot of hard work, we had banked £2.7m and had an extra 765 investors on our cap table. VC’s and ventures fund had also joined in on the round. That’s 765 people who have an invested interest in eMoov’s success. It’s 765 people who are rooting for the company. It’s 765 brand ambassadors. It’s 765 people who can join us on our journey and share in our success.”
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