Crowdfunding During Coronavirus: Crowdcube & Seedrs Campaigns Speak Out
We hear from the entrepreneurs live on Crowdcube & Seedrs during the Covid-19 crisis to understand how it has affected their campaigns.
Campaign Success: LuggageHero
LuggageHero is a luggage storage service which operates in 40 cities across North America and Europe. To date, the company has raised over €1.9m through Seedrs and is currently live with their second campaign. We caught up with Co-Founder and CEO, Jannik Lawaetz to hear his equity crowdfunding success story.
What attracted you to equity crowdfunding?
Crowdfunding gives us an opportunity to engage with our customers, luggage-storage partners and overall network in a unique manner – by offering them the opportunity to own a stake in LuggageHero’s success. It’s really an extraordinary way to bring people off the sidelines and onto the playing field. When customers who use our luggage-storage service, business owners that store their luggage and other players in the travel industry have a personal, vested interest in our success, it gives our business a huge boost, both financially and emotionally.
Aside from capital, how has LuggageHero benefited from crowdfunding?
We have been pleased to attract a network of international investors from every part of the world. This shows that people from all over are attracted to and can benefit from our concept. Plus it’s just fun to interact with so many different cultures. One of the things I also like about crowdfunding, at least on the Seedrs platform, is the ease in which investors can reach out, ask questions, offer suggestions and also converse with one another. It really turns the investors into a team, all rooting for LuggageHero.
Were there any resources or external support services you used for either of your Seedrs campaigns?
I always read a lot of travel industry blogs, including Skift and PhocusWire, and did some research on best practices in crowdfunding campaigns – including yours, thank you! But, no, we didn’t turn to any outside consultants. I have a great team that has been able to handle every part of the campaign internally.
What do you think has been the key to your Seedrs success?
LuggageHero’s mission is to free up travellers from carrying their luggage. I think this resonates with everyone who travels for both fun and work. Because people can relate to what we do, meaning we solve a problem that they personally have, they want to get involved.
What would be your top crowdfunding tips?
It’s important to build and maintain a strong relationship with your investors (and really customers in general, who might go on later to become investors). A campaign shouldn’t end when you raise the money. It’s crucial to stay in touch with your investors and fans. We do this through the Seedrs platform and also via LinkedIn, where we post news, articles and videos. Also, if an investor initiates a discussion on Seedrs, I make it a priority to answer promptly. I also welcome investors to write to me directly if they don’t want to post their question. We always strive to be open and optimistic.
You launched your most recent Seedrs campaign during the Covid-19 crisis. How has this affected your campaign?
You can read Jannik’s response, along with others in our dedicated Coronavirus post here.
We hope you find our content useful. If you have any feedback or suggestions for what you’d like to see, please get in touch.
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