16:22 PM, 15th June 2016, About 5 years ago
Having exceeded 100% of our £125,000 crowdfunding target we are obviously delighted with the support received to date . The funds raised to date are in return for 5% of the equity in the business, thus confirming our valuation of £2.5 million. We would like to thank all investors who have participated in this round of crowdfunding.
After much thought, myself and the other directors have decided to leave this round of funding open to go over 100% to enable us to create more working capital for investment into marketing and technology. This will further enhance the service we can offer by automating basic processes to keep landlords more informed as well as adding working capital to the business.
The increased exposure through our planned PR campaign and the continued support from Property118 and its readership will enable us to grow our market share more rapidly now that our systems and services are ready for rapid expansion.
We are also delighted to report that we now have 96% coverage throughout England following a collaboration with a national inventory service and are expanding our services into Wales and looking for master franchisees/collaborations in Scotland, Northern Ireland and Ireland. (Please get in touch if you are interested)
The online lettings and estate agency market is a growing industry and still in its infancy with companies such as Purplebricks pathing the way for the market with their launch on the AIM with a market cap of £384 million and various notable names within the industry investing heavily into the online sector.
We are at the forefront of the online lettings sector and targeting maximum market penetration in the next 5 years.
For details of the crowdfunding pitch on the Seedrs platform please CLICK HERE
As Managing Director of LettingSupermarket.com I will be pleased to answer any questions from Press and/or prospective investors. My personal mobile telephone number is 07970 987385 and email email@example.com
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