BorrowMyDoggy, a service that connects owners with dog lovers, has recently launched an equity crowdfunding campaign on AngelsDen to raise £1 million (max £1,652,771) for its development and services.
Founded in 2012 by dog lover Rikke Rosenlund, BorrowMyDoggy matches dog owners with borrowers that will offer the pet extra one-on-one attention and exercise. Borrowers get to have a great time with man’s best friend without having the full-time responsibility, while owners will have a peace of mind knowing that their dog is being taken care of by someone who is local, verified, insured, and wants to help out simply because they love dogs. The company has already captured the eyes of nearly 300,000 dog lovers across the UK and also Ireland. It currently offers an annual subscription, which is £44.99 for owners and £9.99 for borrowers. The subscription covers a 3-step verification process along with access to a 24/7 vet line and third party liability insurance.
Last year, the company launched a Crowdcube campaign to raise £575,000 but then shut down the initiative after it secured a £1.5 million investment pledge from IW Capital through Crowdfinders, a crowdfunding event that brings investors and companies together for face-to-face pitches.
The company previously stated:
“BorrowMyDoggy is all about getting to know other dog lovers really well before making a match. Just as you you would with a friend, family member, kennel or dog walker, it’s super important people get to know each other well locally before a pooch is taken care of by another person. Everyone, including the dog, needs to feel happy and trust each other since each pooch and person is different.”
Funds from the AngelsDen campaign will be used to grow the BorrowMyDoggy community, introduce a new website, develop iPhone and Android app and create more partnerships. The initiative is set to close at the beginning of October.
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