When a campaign is sent publicly live on Seedrs (available to Seedrs community of investors), before 1st November 2019 there will be a 60 day time limit to reach 100%.
For campaigns sent publicly live on or after 1st November 2019 the time limit will be reduced to 40 days.
Why the change?
- The majority of campaigns that hit target do so within 30 days and almost all within 40 days. We have seen in those cases that the majority of investment raised is within the first 3-4 weeks of a campaign going public and the last 1-2 weeks before closing when the deadline encourages an increase in investment.
- We have been consciously increasing the time and effort that we allocate into the planning stage of the campaign before launch. So the 'public' period is really just execution of all that planning. Given this shift in focus of efforts, it makes sense to now shorten the timeframe on the platform (and ultimately get cash to the business sooner).
- We believe a shorter, more concentrated, effort is more effective for raising funds and allows you and your team to get back to focusing on growing the business sooner!
- It helps keep the platform interesting for our investors who will hopefully make their investment decision sooner.
What this means in practice?
- If you launch before 1st November 2019 then this will not impact you.
- If you launch after 1st November the expiry date shown on the campaign will appear as 40 days and you should schedule your marketing based on that timeframe.
- We don't expect this to impact on funding success rates or amount raised whilst public. Seedrs has the highest success rate in the industry - we are proud of this and would not implement a change which we thought would impact it.