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.

Yasser Khattak
Yasser Khattak, Founder

Business fact-file

BusinessDen
RegionLondon
SectorManufacturing
Type of fundingCrowdfunding

Key Takeaways

The Challenge

We required to build a team and develop our products in order to transform an idea into a business.

The Finance

£500,000 raise after originally aiming for £100,000 on Seedrs.

The Outcome

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

  1. Crowdfunding has given us more than 2000 supporters and early customers
  2. We have been able to go back to the crowd to raise additional rounds of funding