Why did you decide to trust Sparkup?
While I was looking for information about the different ways to get funds for my company, a friend of mine spoke to me about SparkUp. He had just launched a fundraising campaign with SparkUp, and raised €126,000 for his company, Carfully. He reassured me, and he convinced me that it made sense to present my project to the network of PerfExpert in order to find investors. Jeremy and his team also played a major role in the process of fundraising, and they’ve been helpful with administrative formalities, which is really appreciated.
What made the success of you campaign?
The PerfExpert mobile app had already proved to be efficient, and I think it really reassured people I’ve talked to. Feedbacks from my clients were good and it proved to me that the concept was relevant to investors. The risk associated to the product was therefore limited.
At what stage of your company’s development did you decide to call on SparkUp to raise funds?
I called on network while my company had only been created 2 years ago.
The mobile app PerfExpert, available since several months, was already quite a strong success. The R&D being already done, the funding had the objective to finance the V2 of the product’s commercial development.
Why didn’t you contact Business Angels?
It is preferable to reach Business Angels when the company enters its growth phase.
For PerfExpert, it was not the case since the company was rather young. I was looking for a funding solution that could be adapted to early stage companies, for an amount lower than €50k. My idea was not to close the door to the BA, and raising funds is also a way to find and convince BA and other investors.
How much did you raise thanks to your equity crowdfunding campaign?
I raised €34,500 thanks to the campaign which was consistent with my initial objective for the development and marketing or the PerfExpert V2.
What was the average ticket invested?
The average ticket was €3,450. Several investors brought less than €1,000, when one I didn’t even know brought €10,000. His decision to invest was very positive for the rest of the campaign. The fact that an investor who wasn't part of my closest connections brought that much money reassured many people who were hesitating.
How many people did you contact?
I contacted almost 2,000 people. I contacted the ones who use PerfExpert and I also mentioned my project to my close ones. They have been very receptive and stood by me all along.
They talked to others, which lead to unknown people investing.
How many Investors? Who are they?
I had 10 investors in total. My friends naturally brought me a lot of help, which was important for the launch of the campaign. However, I was very surprised to see so many people I didn’t know mobilize for PerfExpert. My contacts’ contacts are indeed those who brought 70% of the entire fundraising, which is huge!
Have the investors brought you more than just finanical support?
They brought a lot of connections, which is always very useful.
Some also brought me usable technical skills regarding PerfExpert’s activity. This really is what made the fundraising a double success. I got the funds I needed for the V2 of the mobile App plus the expertise thanks to the investors.
What did you like most about SparkUp?
Without SparkUp, I would never have gotten the funds I needed. Jeremy and his whole team were crucial in the process of my project. They have always been there to help me, to explain me how I needed to proceed and how the campaign could go. In addition, SparkUp guided me through the administrative part.
Would you call on SparkUp again for a new fundraising?
On the short term, I don’t need to call on my close ones. But I would use SparkUp again with great pleasure! Therefore, I strongly advise entrepreneurs who are searching for funding to go with SparkUp. They will benefit from a team of experts in financing through close network, always available and ready to listen. Furthermore, SparkUp works, and I am not the only one who can testify today. I can promise they won’t be disappointing!