Seedrs - Round 2 here we go!
As if our first round of funding wasn’t stressful enough we are now onto round 2!
We raised £150k in October 2014 which enabled us to get to where we are today.
A live MVP with over 1,000 registered users and a further 500 fully approved users. We have had one property fully fund and four properties are currently live on the site ready for investment.
It has been a tough 6 months and you never feel like you’ve done enough! But one thing is for sure, we have proven that our concept works. A critical first step for any business. With 150 new registrations each week, we are confident our idea is no longer just an idea.
With a solid legal framework, FCA authorisation in reach and the right processes in place, it’s now the right time for us to really get this business moving.
We have already learnt a huge amount from our investor and landlord audience and it’s helped us shape our product development strategy.
We are often asked why we decided to be a two-sided model. There are a number of one-sided models that source and manage properties and cater for the investor audience only.
Being one-sided would have certainly made things easier!
A two-sided model has meant we’ve had to:
- Market to both audiences and ensure supply meets demand
- Develop our platform to support both audiences
- Create legal frameworks for a wide range of property types as well as the investor audience
But it’s a decision we certainly don’t regret. Being two-sided is what crowdfunding is all about. We wanted to create a market place – where one audience benefits from connecting to another audience and we play the role of the middle man. We strongly believe that as a result, we will be able to have a greater impact on the market.
And from a business point of view it makes sense. We are not restrained by how many properties we can find or manage and as a result we can scale quicker and offer a more diverse range of investments to our investor audience.
So back to our second round of funding. This is where the nail biting begins as we hope that everyone else shares the same enthusiasm and excitement about this market, about the potential and about CrowdLords.
You can check out our fundraising campaign on Seedrs: https://www.seedrs.com/startups/crowdlords1
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