Case study: Tutti reaches max overfunding on SeedrsJan 11, 2023
"ISQ removes a lot of the unknown ahead of time so that you don't have to worry about everything….I'd recommend it to anyone who's crowd-raising." - Gabriel Isserlis, CEO & Founder of Tutti
Campaign target: £240,000
Final amount raised: £300,457
Overfunding %: 123%
Number of investors: 337
Pre-money valuation: £1,5M
Final equity offered: 16.45%
Business summary: Tutti is a creative venue marketplace. It's essentially Airbnb for creative spaces. tutti helps creative professionals find and book amazing spaces for film shoots, photo shoots, rehearsals, recordings, and performances.
- 2 sided marketplace fully operational used daily
- 4000+ creators and 1000+ spaces live on Tutti
- BBC, ITV, & Sky have used Tutti to find space
- Self funded until April 2022
We sat down with Gabriel Isserlis, CEO and Founder of tutti to ask a few questions about how the crowdfunding campaign on Seedrs went and what he’s learnt…
Why did you choose ISQ?
“We used ISQ because we had a bunch of good suggestions from people that it's good to know exactly what to expect from a crowd raise before you start it. So at helping us figure out everything we needed ahead of time so that we were organised.”
What was the best bit of the campaign?
Once the campaign opened there was a lot of excitement around the campaign. Gabriel saw a big spike in traffic to the Tutti website and increased engagement on Linkedin. Some of Gabriel's Linkedin posts around campaign milestone updates reached over 9K views, which was a record for Tutti.
"The main reason to do a crowd raise is marketing, not funding. Funding is a nice side benefit.”
A few other highlights Gabriel mentioned include:
“Hitting maximum targets on Seedrs, and fellow founders and friends coming out to support and post about the raise because they know it's not easy."
Top tip: Gabriel diligently downloaded his list of investors every day and marked next to every single person how he knew them. This gave him real insights into who was coming onboard to his campaign.
What were the key challenges you encountered whilst crowdfunding?
The final closing days were fun but stressful for Gabriel, as he had to delay closing due to trying to secure an extra £10K ticket.
“There are a load of things that we didn't expect. There's so many pieces of the puzzle of crowd raising….”
Gabriel said he found crowdfunding “all-consuming”, because as a single founder, he had to do a lot of the admin himself. He said…
“The crowdfunding is like any fundraise. There's highs, there's lows. It's tricky. It is not a walk in the park if you are like considering crowdfunding because you think it'll be an easy like alternative to angel investment, that is just not the case. I did no work on the business for the two months that I was focused on the crowd raise. It is entirely, yeah, it's all consuming”
Any other advice for business leaders looking to crowdfunding?
“If you are a first-time founder, if you are a young founder, if you've never properly fundraised in the past, crowd raising is going to be a challenge. So I would definitely get ISQ’s support.”
“ISQ have made sure that they can help you any time of every day by having their team members scattered around the world so that they're always available 24/7, use them, lean on them. They will make your life easier. And if you’re going down this path, best of luck.”