The other day I caught up with Stefan Manku, the founder of Fully Booked Salon, to discuss the recent equity fundraising campaign he carried out on the crowdfunding platform Seedrs. Unfortunately Stefan didn’t manage to raise the target amount in order to successfully complete an investment into his business, but he did reach half of the figure required before the deadline kicked in and his pitch was closed on the site.
Despite this disappointment Stefan considered the whole process very beneficial as he learnt a lot and developed some great contacts through carrying out the campaign. He continues to build and adapt his platform and is considering attempting to raise his target again on Seedrs in the future.
In the interview we discuss the reasons why Stefan chose to crowdfund and why he picked Seedrs from the other available platforms. Some of the other areas we talked about were investors’ views of being a sole founder, dealing with due diligence queries, providing business plan information and the importance of building and priming your own network before your campaign goes live. This allows momentum to quickly increase and therefore attracts the wider community of investors on Seedrs who will have more confidence in your business due to the early demonstration of social proof.