Wriggle has its sights set on becoming the Groupon for independent UK businesses. The app matches users with last-minute deals at independent food, drink and entertainment establishments.
Escaping the City
Rob Hall, CEO and founder of Wriggle, went to law school directly after university. But after only five years practising law at an international, magic-circle firm in the UK and Brazil, Rob decided to, instead, pursue his idea for Wriggle full-time and become an entrepreneur. Rob returned to his hometown of Bristol to develop and launch Wriggle, saying, “It has tonnes of amazing independent restaurants and bars, it’s a great size to test out a business and most importantly, it’s a city I love and was keen to return to.”
Reviving the high street
The problem Wriggle addresses is an obvious one for many. “The problem for businesses is that all of these restaurants, bars or events, even the successful and popular places that Wriggle works with, have excess capacity in the form of empty seats or perishable food that will go to waste if they aren’t filled. Wriggle helps these businesses get new customers to fill empty space at the last moment, importantly, in a way that protects their reputation,” Rob says. While getting Wriggle off the ground, Rob applied to and was accepted into the first Webstart Bristol incubator cohort in early 2014.
On top of the mentorship and support that each of the 10 participating businesses received, they were also offered equity investment from the world’s first equity crowdfunded fund – the Webstart Bristol Fund. The Fund proved immensely popular, offering each of its 133 investors (through Seedrs) instant diversification across each of the programme participants. Wriggle received its first investment of £20,000 from the fund.
And they’re just getting started!
To help drive the expansion of the app to other major UK cities, Wriggle returned to Seedrs in mid-2014 and successfully raised £156,573 from 196 investors – some of whom had invested as part of the initial Webstart Bristol investment.
“When it came to raising money, I went for Seedrs because I liked the security that comes with the process. Provided you get sufficient backing, there’s a very set timeframe for getting the money into the bank and start using it to generate growth. We already had the relationship after the Webstart Bristol funding, so I knew and liked Seedrs’s legal nominee structure, and also trusted Seedrs’s ability to carry out the process smoothly,” Rob says.
And it’s not just investors who are enthusiastic about Wriggle and their approach to re-invigorating the high street. Wriggle has also gone on to win bucket loads of awards and accolades, including the Best App Award at the 2014 SPARKies and was selected as one of the top seven startups at Seedcamp London.
To learn more about Wriggle for your business, and to learn how you can take advantage of targeted last-minute deals, visit getawriggleon.com
- England Country
- £799 Avg. Investment
- 196 Investors
- £156,573 Raised
- 15.41% Equity
- 53 Days to Fund