“5 clients are going to fund our digital strategy and a wider range of products and services offered by our wineries”
But why SparkUp? Simply because I know the sales teams well from Finsquare, a company who work in the same building as SparkUp. They put us in touch which confirmed my choice to work with them. SparkUp was the easiest and quickest way to find the funds we needed.
The aim was to develop and grow the company.
Initially I wanted to develop a digital strategy and then create a new website in order to be more visible on social media and acquire new clients.
We then wanted to diversify and improve the range of services we offer to our clients, with the creation of new tasting sessions and the launch of private fine dining for wine connoisseurs.
Finally, we wanted to extend our range of products to complete our offer.
In order to successfully execute the plans, I also needed to hire new staffs.
In addition, among the 5 new shareholders, there are 2 who really want to get involved every day, by helping me define the strategy for my company.
The others prefer to take a backseat which is fine with me.
Indeed, before the fundraising attempt I didn’t have a shareholders’ agreement so I had to seek the advice of a lawyer about all the legal obligations (statutes, shareholders agreement, investment convention and entry tickets).
In addition, I didn’t realise that once the funds have been received that they would be blocked for a certain length of time. So I spent hours with the bank too.
SparkUp made my life easy, helping me to manage my campaign which saved me time and allowed me to move forward in other areas.
However, I would warn entrepreneurs to not underestimate the time it can take to release the funds.
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