Launched by entrepreneur Merilee Karr, UnderTheDoormat manages properties and guest stays in the fast-growing sharing economy accommodation sector.
The service provides homeowners across London with a secure and hassle-free way to earn money from their property when they’re out of town.
Since the company was launched two years ago, it has hosted over 650 guests from more than 40 countries, the majority of which were from the USA.
Speaking to BQ, Merilee said: “I am really pleased with the company’s growth so far. One of the hardest things for start-ups is managing the growth of your business whilst making sure you have the right foundations in place.
“I am really proud that we’ve been able to build our business from the ground up and are now in a position to scale with the robustness that we need to ensure that the brand offer is clear and our proposition is delivered to our customers.”
In a bid to continue growing the business, Merilee decided to launch a crowdfunding campaign via Seedrs in an attempt to initially raise £175,000.
In less than a month, 144 private investors flocked to back the campaign and helped the company smash its target and due to such a high interest UnderTheDoormat has extended its target to £250,000.
“We chose crowdfunding for two reasons. Firstly, because we were wanting to seek investment, but more importantly, because we wanted to use it as an opportunity to communicate about who we are and what we do,” added Merilee.
“Our goal is to have as many investors as we possibly can in the business. This is because we are looking for people who believe in the brand, even if they only own one share, they’re able to help us spread the word and promote what we do.
“I’m really happy with the campaign. It’s incredible to achieve this in less than a month and to now be overfunding. It has been a fantastic campaign and we’re really excited to see where we can take things over the coming weeks.”
Going forward, Merilee sees the company expanding outside of the UK and operating its service in major cities across the globe.
Speaking about where she sees the business in three years time, she concluded: “I see us as being a lot bigger in London with over 1,000 homes and launching in other global cities.
“We’re looking into growing the company into a global brand so would love to expand outside of the UK into some of the world’s largest cities.”
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