The second Barnaby campaign raised €99,900 in less than two weeks. Due to the overwhelming success of the fundraising, we wanted to find out how the entrepreneur, Quentin Thireau, was feeling about the whole experience.
This round of fundraising isn’t your first experience with MyMicroInvest…
No indeed, this is the second time we’ve trusted MyMicroInvest for our fundraising process. The first one took almost 6 months to organise, launch and close but this time, it was much quicker, the online fundraising only took 8 days!
These two campaigns offered credibility to our concept, especially towards other other financing sources such as Business Angels or even VCs.
If you had to remember 3 things about your experience, what would those be?
- A crowdfunding campaign is the perfect occasion do let a young company organise its pitch as clearly and concise as possible.
- A great human experience. People who are investing at least €100 in your project is very touching.
- Not considering crowdfunding as a simple source of fundraising. It also allows the generation of a community of early adopters who believe in the product since its launch and who will be very involved.
What elements contributed to the success of your campaign?
Personally I believe the factors were:
- The time spent by the entrepreneur to create a complete, clear and sexy file.
- The entrepreneur’s ability to convince his family and friends to invest and stimulate the campaign for future investors.
What are your future plans?
We would like to expand our growth while optimising and stabilising our general costs as well as our client acquisition costs in order to break-even during 2019.
Our second fundraising will help us consolidate our current pilot project and deploy our model on an international level.
What advice would you give to an entrepreneur wishing to raise funds with MyMicroInvest?
Anticipate the time for a round of fundraising (preparing, launching, etc). It takes time and energy! You spend time activating and promoting the campaign and it’s important to motivate your network (we even created a dedicated Facebook page for the campaign). Finally, the people who you expect the most from, are the people who invest the less. The wealthier people are not the people who invest the most and many interesting and lovely surprises can take place.