The Europe-based app Urban has bagged €6.5 million on the platform Seedrs’. The funding amount is triple from their initial target. To be noted, this is the investment platform Seedrs’ third-largest fundraiser in crowdfunding. The investment has 800 investors and ranks amongst the top 20 on the platform in terms of the number of investors.
The crowdfunding campaign
The crowdfunding campaign was set to be live till mid-October but the powerful investment the app closed early, limited by the investment they could accept. Urban is a treatment booking app for European cities London, Manchester, Paris, and Birmingham. After witnessing growing opportunities in the Covid-19 pandemic, they launched this Seedr’s campaign.
Funding plans
With the funding they have raised, Urban has planned to use it to accomplish profitability till 2021. They focus on building the current services they offer; these include massage, physiotherapy, beauty, fitness, osteopathy, and other offerings that drive them to reach profitability until the coming next two years. Urban is also planning to increase its services to more cities and initiating a new process of onboarding so that the professionals aren’t supposed to visit their office. Keeping the Covid-19 situation in mind, it is a secure model and will help Urban to expand faster. Among the investors of Seedrs’ BNF capital brought in €1.5 million, and as the campaign passed the €2 million mark, it invested another €2.5 million.
The CEO of Urban, Jack Tang, said they are grateful for the success of this crowdfunding campaign, and it speaks something powerful for the post Covid wellness. They are energized to put up their efforts and get along the promises they have made to their new investors, Urban customers, and professionals.
About Urban
Urban is a wellness service launched in 2014 that offers 30+ self-care and mental wellness services like physiotherapy, personal training, yoga, osteopathy, etc. People can opt for online sessions or offline services in person. The app is successfully operated in 4 European cities and has more than 4600 wellness practitioners. Urban is focused on making self-care affordable, enjoyable, and convenient, especially for the people of cities. The best part about their treatments is that they are completely customized according to customer needs.
About the fundraiser platform Seeders’
The equity crowd backing platform, Seedrs’ is headquartered in London. Founded by Carlos Silva and Jeff Lynn in 2012, it aims to collect funds for budding startups and discover emerging entrepreneurs. In 2019, 250 startups raised their funds using the platform.
