Case study: Delivr-ing a great campaign on CrowdCubeMay 18, 2021
Have You Ever Ordered Something And Wished You Could Get It Immediately?
DelivrMe Is a new delivery app that makes it easy, convenient, fast & safe for users to order anything, anytime, anywhere. Started in 2018, after founder Zak realised there was a gap in the market for an on-demand delivery service, DeliverMe, now a growing team of 6, turned to crowdfunding to facilitate their launch in Birmingham. In a couple of weeks, they’d hit over 400 investors on CrowdCube. We chatted to Zak about their campaign.
1. Why did you decide to raise investment via crowdfunding, rather than other methods of raising funds?
We loved the community-driven business model, and the excellent marketing potential that comes with that. We knew that DelivrMe was a campaign with the potential to massively overfund, so it was important we got this across in our pitch and campaign materials - which ISQ guided us through perfectly.
2. Did you have lead investment confirmed before you joined ISQ? How did your network respond to your decision to raise investment via crowdfunding?
We did not, but in the early stages of communications, we received a very positive response from our network, raising £150,000 prior to going live but after joining ISQ. Overall, we overfunded to 148% of our minimum target, with 484 investors on board.
3. What were the key challenges you encountered whilst crowdfunding?
The timeline seemed lengthy, and the evidencing process before being allowed on Crowdcube was very thorough. But through ISQ’s programme, we had access to fantastic feedback, including actionable comments at the end of every module.
4. Please tell us what you believe are our three key areas of strength
1. Crucial feedback 2. Their experience 3. The past success stories
We would certainly recommend ISQ, purely for the feedback and actionable comments we had throughout our entire campaign. We now feel like we have enough social momentum to gain investment from Venture Capitalists & Angel Investors next time, and would choose this route of funding in future now that we have gained so much traction from our successful raise.
5. What did you learn from this experience? Did you enjoy it?
The whole back-end and preparation to a crowdfund are more than we ever thought. But it was definitely an enjoyable process from the community point of view. Crowdfunding has funded our next year of trading, and allowed us to finally launch our product!