We hear from the entrepreneurs live on Crowdcube & Seedrs during the Covid-19 crisis to understand how it has affected their campaigns.
Campaign Success: Cranes
Cranes is a premium British cider brand who has successfully launched three campaigns on Seedrs, raising over £500k. We interviewed Co-founder and Managing Director, Benjamin Ritsema to hear their equity crowdfunding success story.
You’ve now successfully raised three times on Seedrs. What keeps you coming back?
We first used Seedrs after a friend who successfully raised on the platform recommended them. It has made sense to continue using them, with a large base of current investors from Seedrs. Also, the added simplicity that Seedrs hold the shares in our business rather than having 500 separate shareholders. They also have a good platform to update and communicate with shareholders.
Aside from capital, how has Cranes benefited from equity crowdfunding?
Having a network of over 500 investors has its positives. We have 500 brand ambassadors that are actively spreading the word about us to their family and friends. We also have a few enthusiastic investors that have given us valuable advice and help sell into their local pub, for instance.
How do you prepare for your Seedrs campaigns, and are there any specific tools, techniques or strategies you’ve found most effective?
You do have to be very well prepared; we make sure we are active and communicating with current investors in the leadup. You want to have a large chunk of your target pledged before you go live. Often investors want to get more personal and know the people behind the business and brand. Something we did, which we found very useful was to do a live webinar with them to discuss our progress and let them ask questions.
Have you used any external support services for any of your Seedrs campaigns?
The only external support service we have used is our local videographer in Cambridge to help build and edit our video; we had a lot of the video content from the years, which helped the editing process. Obviously listened to Seedrs advice and just tapped into our past experience. On our first campaign, we approached a few brands that had crowdfunding successfully and asked them for advice.
What do you think has been the key to your Seedrs success?
I think the key to our success has been in the community and support of our current investors. They have continued to increase their investments and help build momentum.
What would be your top crowdfunding tips?
My biggest tip would to be open and honest with investors and try to update as much as you can. Deliver what you promise, if you don’t, be honest and explain why not.
You launched your most recent Seedrs campaign during the Covid-19 crisis. How has it affected your campaign?
You can read Benjamin’s response, along with others in our dedicated Crowdfunding during Coronavirus post here.