Savvy Navvy, a UK-based marine navigation mobile app, has successfully secured its initial £400,000 equity crowdfunding target through its latest campaign on Seedrs. The funding round was launched on Thursday and quickly raised the funds from more than 200 Seedrs investors.
Founded in 2017, savvy navvy stated it is working to build “the best” navigation solution for sailors worldwide. The company further explained:
“We take into account your boat details as well as real-time weather and chart data to plot a safe route in seconds. With ETA planning, GPS locations, 3D Route previews and waypoint export options savvy navvy helps pick the best route for you and your crew.”
The company raised £330,000 in a matter one of week through its previously Seedrs campaign. Seedrs 2019 Entrepreneur of the year and Founder of savvy navvy, Jelte Liebrand, shared his thoughts about the company’s crowdfunding success by stating:
“The response to our 2019 campaign was astounding, we could never have foreseen the round going so well and we were humbled by the response received. This year we are opening our doors once again for investors as we scale for further growth in 2020. Hopefully some of the people that missed out last time will get their chance to become a part of the future of sailing navigation this year.”
Funds from the latest Seedrs round will be used for the following:
- Expand into the much larger motorboat market
- Drastically increase our marketing spend
- Add new acquisition channels
- Form partnerships in the industry
savvy navvy is currently offering 17.37% in equity at a £1,902,516 pre-money valuation. The campaign is set to close mid-March.
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