On Friday, dog lovers service BorrowMyDoggy officially closed its equity crowdfunding campaign on Angels Den. The company successfully secured its minimum £1 million funding goal as it continues to develop its UK and Ireland dog services.
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 adorable pets without having the full-time responsibility, while owners are able to relax knowing their dog is being taken care of by someone who is local, verified, insured, and wants to help because of their love for dogs. The company stated it 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.
BorrowMyDoggy 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.”
BorrowMyDoggy launched a Crowdcube campaign last year to raise £575,000, but then shut down the initiative after the company secured a £1.5 million investment from IW Capital through Crowdfinders. The funding round has been led by IW Capital and as part of this funding round, Angels Den has raised £150,000. The rest of the funds has been raised by IW Capital.
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