From successful Crowdfunding raise in 2015 to a £14m valuation in 2018
Den has gone from an idea and an opening Crowdfunding raise of £500,000 in 2015 to a company valued at £14m with 24 employees in 2018.
|Type of funding||Crowdfunding|
We required to build a team and develop our products in order to transform an idea into a business.
£500,000 raise after originally aiming for £100,000 on Seedrs.
Funding allowed me to begin hiring a team and developing our products. We've gone on to subsequent rounds of funding totalling more than £2.5m.
The journey to finance
- Den is a technology company that's reinvented the light switch and plug socket.
- I started Den when I was around 19 years old with just an idea and I needed funding to develop our range of products from scratch, to pay for marketing and to pay for manufacturing and stock ahead of an eventual product launch in the UK.
- I had previously secured around £30,000 from friends and family but was pretty confident we could secure the funding required for Den.
- My cousin introduced me to crowdfunding - I had not heard of it before - and I applied to raise £100,000.
- The application was pretty straightforward and I secured £500,000 on Seedrs despite a target of £100,000. That allowed me to begin hiring and developing products.
- We've gone on to subsequent raises in 2016 and 2017 and Den now has a valuation of £14m.
- We're currently manufacturing in China and will launch into the UK market in 2018.
"Securing funding has allowed me to fund an idea I had as a teenager, into a business that is about to transform an industry."
|Yasser Khattak Founder and Chairman @ Den|
The best bits about Equity Crowdfunding
- Crowdfunding has given us more than 2000 supporters and early customers
- We have been able to go back to the crowd to raise additional rounds of funding
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