What made your campaign a success?
Our address book and the combined experience of our four founding members made a big difference to the success of our crowdfunding. The people who invested are notably our former shareholders, people we’ve known since the creation of Trooclick in 2012 (Storyzy’s parent company), our professional network and our second circle network. I think that the fact that our product is so easy to understand has also helped our campaign. Storyzy’s offer can be easily explained and appeals to everyone.
What would you say to people about using SparkUp ?
I would suggest they test the platform as it’s free until you start raising money and then to contact an advisor from SparkUp. What really helped us succeed, was the availability, the advice and the dedication of Martin, our advisor from SparkUp. He was brilliant and I hope you’re lucky enough to work with him too.
Why did you decide to raise funding and SparkUp ?
We wanted to raise funds with SparkUp as we found it to be a fast and efficient solution to raise capital. To be honest, we made our decision in just four days when a bank backed out after agreeing to finance us.
At which stage of development did you decide to raise funds for your business ?
We wanted to raise funds once our product was operational.Today Storyzy exists in a Beta version but it isn’t really on the market yet.
How much did you manage to raise this way? Under what conditions ?
We raised 82 000€ at the end of our first campaign which lasted from June 14th to August 15th 2016. What were the per investor amounts and how many investors bought into the company ? 40 investors pledged amounts of between 5 000 and 50 000€.1/3 of the investors were former shareholders of other companies of our founding members;1/3 came from our personal networks (friends and family) and 1/3 came from our professional network. Only one person who didn’t know us at all made an investment.
Who did you contact ?
We contacted former shareholders, the people who had participated in our project whose opinion we had consulted, our clients, potential clients and our network.
Did these investors provide more than financial support ?
This fundraising is very recent, so for the moment there isn’t much to say. But what we hope is that they will bring us new contacts, mainly to help us market and develop our product.
Would you recommend crowdfunding ?
Of course, but it depends on the maturity of the company. I think it’s still difficult for companies who don’t yet have a personal track record or one linked to their company. For us Storyzy was a young a start-up without a strong pull and it was the collective experience of the four founding members that helped to convince the investors. For example, this is the third company I’ve launched.
Would you recommend crowdfunding via sparkup?
Yes, and I have already mentioned SparkUp to six new businesses who are looking for financing. I would also like to suggest this type of financing to candidates for franchises as it’s a very good way to fund the capital injection that is required to launch a franchise.
["Professional Network","Friends and family","Investors in their previous companies"]