In a world where children are born as digital natives, it is more important than ever to develop their social and creative skills. Everyone is increasingly connected with each other, so why shouldn’t children have access to a dedicated e-communication system?
Maily is an application that makes it simple for young children to send quirky, personalised messages to Mum, Dad, their grandparents and close friends easily, rapidly and securely. Children can create messages using simple creative tools like digital pencils, brushes, photos, backgrounds, stickers, and their most commonly used expressions. Maily also allows parents and loved ones to reply to the child’s messages. Most importantly, Maily has extensive built-in parental control features so that parents are in charge of who their children can communicate with.
VC investment alongside the crowd
As an alumnus of leading European accelerator programme Seedcamp, Maily had already validated their business model and gained traction when they sought growth capital through Seedrs in 2014. The team were looking to expand their team, develop cross-platform functionality and expand globally. In fact, the company had received more than they bargained for.
While campaigning for £150,000 on the platform, Maily caught the eye of Faber Ventures – a major European venture capital firm. After further discussions Faber was keen to invest alongside the “crowd” at the same valuation and on the same terms; but they wanted to invest £180,000 – more than Maily was looking to raise.
Excited about the prospect of accelerating the business quicker than originally intended, Maily cancelled their initial £150,000 campaign and re-campaigned with a £250,000 target. Investor demand was impressive as Maily overfunded their new target by 140% and raised £352,270, which included Faber’s investment. The campaign represents the first time a venture capital firm invested through an equity crowdfunding platform and alongside the crowds.
Critical to the success of the round was the Seedrs nominee structure that helps ensure that investors share in the success of businesses. Faber believes that this type of investment is viable only because Seedrs acts as the sole legal shareholder on behalf of the crowds. Had Faber been required to coordinate individually with every investor, as would have been the case on a crowdfunding platform that does not act as nominee, the administration would have been too overwhelming, and Faber would have required Maily to choose between it and the crowds.
Raising more than just money
Co-founder Raphael Halberthal admits, “The combination of Faber, an investor that will work hand in hand with us and bring more than just money, and the crowd is the perfect mix.” “It also shows how Europe can make things work for an early stage startup willing to grow fast and bring a new product worldwide.”
Learn more about Maily and download the app at maily.com
- Belgium Country
- £1,559 Avg. Investment
- 226 Investors
- £352,270 Raised
- 26.05% Equity
- 2 Days to Fund