What made your campaign successful?
The quality of my associate’s network, as well as our concept which is appealing and simple to understand both contributed to the success of our campaign. The strategic placements which we were able to obtain in train stations and on the underground also helped us to succeed as they reassured potential investors.
What would you say to entrepreneurs who hesitate to call on SparkUp?
I would say that SparkUp is an essential solution for a successful funding campaign, thanks to the leverage of our entire network. It’s an excellent tool that can be used alongside other financing solutions.
Why did you decide to try crowdfunding with SparkUp?
SparkUp was the best solution for us as we needed quick financing and also to develop our franchise through our network.
At what stage of your company’s development did you decide to try crowdfunding?
We created Gagao over two years ago. The aim of this fundraising attempt was not only to accelerate our growth with the opening of 5 new shops of our own but also to develop our franchise.
How much did you raise with this method? What were the conditions?
SparkUp enabled us to raise €235k on our own investment terms. The first round brought in new investors and today we’re beginning discussions with potential business angels for amounts of more than €200k.
What amounts were invested and how many investors took part?
8 investors took part in our increase in capital with an average amount of €30k. Among these investors, we counted family friends, a client from an accountancy firm, an industrial supplier. Once the first round was complete, we continued our discussions with new business angels for a further €200k of investment.
Who did you contact?
We contacted everyone from my partner’s address book, my network and from our client base. With help from SparkUp we were also able to contact other businesses that could be interested in our product such as cake shops, chocolate makers and Parisian restaurants.
Did your investors provide more than financial support?
The Business Angels mentored us, which is what we expected of them. They also put us in touch with other potential investors so that we could maximise our chances of success.
Would you recommend crowdfunding with SparkUp?
Yes absolutely. I have already recommended you to other entrepreneurs who are seeking fundings. SparkUp’s tool is totally different from other models because it offers entrepreneurs a much more human and personalised contact with potential investors. SparkUp allowed us to find the right investors at the right time. If tomorrow, I had to raise funds again I wouldn’t hesitate to contact the people targeted by SparkUp.