Story Terrace crowdfunds over £500K on Seedrs
After launching an equity crowdfunding campaign on Seedrs, Story Terrace, the bespoke memoirs service has raised over £500K, exceeding their initial funding target of £400,008.
Story Terrace hit the funding target in just 21 days and attracted more than 260 investors from 17 countries. They will use the funds to continue the development of its book creation technology and planned US expansion.
Story Terrace is an autobiography writing service, which enables everyday people to capture their life story with the help of a professional ghostwriter. Story Terrace matches professional writers with customers who are looking to create a biography, which is then printed as a hardcover book.
In just over three years, the company has offices in London and Los Angeles and has assembled 400 specialist writers.
Rutger Bruining, Story Terrace founder and CEO, said: “At Story Terrace we want to make sure that in the future everyone’s life story is captured in a meaningful way. To do so, we have made it easy and affordable to work with a professional writer and turn anyone’s life story into a beautiful book.
“According to our research 35% of 40+ year old Americans earning over $75K are willing to spend on average $2,288 on a service like ours, so we are confident that Story Terrace can tap into a huge potential market.
“We are delighted by the response we’ve received to our first crowdfunding campaign. For us, crowdfunding is a useful tool to broaden our community of not only financial supporters, but advocates and potential customers, and we look forward to taking them all on this journey with us.”