Blog Post
E31. Merilee Karr, UnderTheDoormat - Doubling the Raise with Future Fund
#FutureFund #advisors #crowdfunding #Seedrs #Crowdcube
£600k raised
Merilee Karr is the CEO and Founder of UnderTheDoormat – an award-winning luxury short-term rental company, enabling modern travellers to enjoy the comfort of a home with the professional service of a hotel.
Merilee founded the business in 2014 and brought on board advisers. Their value was twofold: they invested and were experts in their own areas, advising on aspects of growing the company. She made the decision to raise multiple crowdfunds as opposed to taking a larger sum of money from VCs. Merilee highlighted that raising investment and selling equity needs to be a strategic long term decision.
Recently, UnderTheDoormat closed a round of £300K, using the Future Fund. The Future Fund is a convertible loan where the government matches the amount committed by your investors. It serves Merilee as protection for the business, and the ability to capitalise on potential opportunities. In an industry highly affected by Coronavirus like Travel, this is the perfect time for a strong business to consider government funding options like the Future Fund.
In this episode you’ll discover…
- Why strategic board advisers are so valuable
- Why you might consider multiple crowdfunds
- What the Future Fund is and how it can be used to raise capital
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