Success Story
| Region/Nation | London |
|---|---|
| Sector | Financial and Insurance Services |
Equity Crowdfunding didn't just help Wrisk access the funding it needed, it also provided a unique marketing opportunity too.
Wrisk listed on Seedrs, an Equity Crowdfunding platform, to access funding for product and tech development within the business.
The challenge
Wrisk needed funding to develop both its product and technology.
The ambition
Wrisk wanted funding but also wanted to emulate the success that other Fintech start-ups had experienced on crowdfunding platforms.
The finance
£600,000 via Equity Crowdfunding.
The outcome
Wrisk overfunded by £100,000, reaching £600,000 invested in total via 500+ investors in 28 countries, allowing it to invest in product and tech development.
Most VCs said they liked our idea but would only invest at Series A time. No use to me! - Niall Barton CEO and Founder of Wrisk
Wrisk's journey to finance
- Wrisk is an insurance app which enables consumers to buy and maintain their personal insurance in one place.
- Wrisk's aim is to make buying and updating insurance simpler and more transparent, providing you with a Wrisk Score to help you understand why you're paying what you pay for your insurance.
- In December 2017, Wrisk raised more than £600,000 via an Equity Crowdfunding platform in less than a week, overfunding by more than £100,000.
- That finance enabled Wrisk to develop its product and tech ahead of its launch early in 2018.
Wrisk's Top Tips
- Engage with the Equity Crowdfunding platform's team - they can offer insight into the suitability of your business.
- Engage early with the platform.
- It takes effort but it's all logical and efficient.
We achieved more than we'd ever hoped for with Equity Crowdfunding. It delivered the funding we needed, quickly. It gave us unprecedented publicity for our product, and lastly it has prompted some very interesting business opportunities and partnerships. - Niall Barton CEO and Founder of Wrisk
The best bits about Equity Crowdfunding
- It exceeded our expectations. We now have 500+ investors.
- The team behind the platform were very responsive and insightful.
- We reached our target in four and a half days, so decided to leave it open for a further two days and raised an additional £100,000.
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