#WeInvested update – Buyapowa
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We catch up with crowdfunding success Buyapowa to see how they’re progressing since raising funds with us.
We regularly catch up with the hard-working entrepreneurs who have successfully raised funds with Code Investing, to keep our investors informed and provide inspiration to other SMEs.
This week we spoke with Buyapowa a technology platform, to find out how they’re doing since hitting their crowdfunding targets.
Buyapowa is a referral platform that helps online retailers acquire new customers and increase sales. Launched in 2011, retailers use the platform to encourage and reward their customers who get their friends to shop too.
They approached Code Investing last year with a fundraising target of £1,399,999.00 and by mid-December they had surpassed their goal, raising a total of £1,440,214.00.
We asked David Mollison, CFO at Buyapowa for an update on how things have progressed since being crowdfunded, here’s what he told us:
“In April this year we hosted our first ever event with executives from brands including The Guardian, Waitrose, Space NK and Boots attending. As well as our own CEO and our Head of Product, guests heard from our guest panellists Feelunique COO Jim Buckle and O2’s Head of Social, Kristian Lorezon. The event was a great success which has led to numerous new sales conversations and strong renewals”
You can see a video of their event presentation here.
Client wins & renewals
In addition to renewals, David tells us that Buyapowa has won several new contracts from within the beauty sector as well as new fashion clients including PrettyLittleThing, Oliver Spencer and The Chapar. They also made their first foray into casual dining with an online-offline integration for ZiZi.
Their growth has seen them expand internationally with “new clients from Peru to Sweden, with notable deals being made domestically with Jamie Oliver, Majestic Wines, Three, and Heals & Son.”
We asked David if and how they have invested the capital raised back into their product and he told us of several improvements:
“Our international coverage has ballooned to include the UK, US, Australia, France, Denmark, Thailand and Vietnam with clients live in each of those geographies.
With more than 50 client sites live in more than 20 geographies, the platform has evolved and been adapted to handle all these languages and currencies.”
Part of that evolution and growth has included building technical ‘libraries’ required to power referrals on both Apple and Android devices. This is in addition to the creation of cards that sit within your Apple or Android “wallets” that can be used for on and offline purchases or referrals.
What lies ahead?
In addition to two new senior level hires brought in to capitalise on emerging opportunities in Europe, David told us they “anticipate strong international development will continue, and we’re focusing on building up an arsenal of industry-specific materials.”
If all this has inspired you to get funding for your up and coming small business, you can find out about raising funds and our application process through either debt or equity from our How To Raise page now.
Alternatively, if you’re an investor and would like to hear more about projects like those mentioned above, sign up to our newsletter at the bottom of this page and we’ll send you regular updates on exciting new investment opportunities ahead of the crowd.
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Investing in early stage businesses involves risks, including illiquidity, lack of dividends, loss of your investment and dilution and it should be done only as part of a diversified portfolio. CODE Investing Limited is targeted exclusively at investors who are sufficiently sophisticated, or who are judged by CODE Investing Limited otherwise to be appropriate, to understand these risks and make their own investment decisions. You will only be able to invest with CODE Investing Limited once you are registered as sufficiently sophisticated or otherwise appropriate for these types of investment. Investors via CODE investing are not protected from loss by the Financial Services Compensation Scheme against the Company’s default or for any losses they may suffer. Please read the full risk warning for more information. This page has been approved as a financial promotion by CODE Investing Limited, which is authorised and regulated by the Financial Conduct Authority. Investments can only be made on the basis of information provided in the pitches by the companies concerned. CODE Investing Limited takes no responsibility for this information or for any recommendation or opinions provided by the companies.
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