Seedrs

Savvy Navvy raised from its own users on Seedrs instead of taking VC. With 10,000 users, its first campaign was oversubscribed within 24 hours and closed in 6 days at triple the target. The campaign was a video, financials and a pitch deck, shown to people already using the product.

Liebrand agreed the valuation with a few angels first, then everyone else joined at the same terms. Most of the round came from a handful of angels, and a long tail of small investors filled the rest. In his words: "within 6 days we shut it down because it was triple of what we what we needed". Crowdcube is named as an alternative platform.

Sub Club▶ 18:10

Seedrs fronts the long tail of small investors on the cap table. The platform sits on Savvy Navvy's cap table as the front for its many small investors. Savvy Navvy now has about 2,500 investors, with rounds mostly around the million mark.

Investors hold real shares, which trade on Seedrs' secondary market. Liebrand won the platform's Entrepreneur of the Year award in 2019. Seedrs is now owned by Republic.

Sub Club▶ 18:10