Crosspay Crowdfunding Case Study
Crosspay’s mission is to make international money transfers simple and cost-effective. We had the pleasure of working with Crosspay, a UK based company, who have set foot in the financial services sector, intending to make international money transfers at a fraction of the cost. They approached us to shape up their campaign to raise capital, to help them scale up their product by adding more suitable functionality and enter new markets. As a result, Crosspay’s Crowdcube crowdfunding campaign raised a substantial £212,163 – overfunding by 141% more than their initial target of £150,000! Here’s how Drop Studio helped Crosspay with their crowdfunding campaign on Crowdcube.
Crosspay – The Brand
Every year there is more than $200bn in global remittance, yet more than 70% of the market is served by traditional over-the-counter (OTC) services. Money transfers, both international as well as domestic, are often expensive, frustrating and slow. Rakesh Kurian, Founder and CEO of Crosspay, found the need to develop a platform that addresses this issue. As a result, in 2017, Crosspay was born. The platform is easy to use and takes 2 minutes to sign up, allowing the recipient to send money anywhere in the world.
Crosspay is a proprietary system to power international transfers at a fraction of the cost. Since its beta launch in 2018, the website and the app has powered over 50,000 transactions across 50 countries with a cumulative value of approx £32,350,000. Crosspay also boasts a 10,000+ user base and is rated ‘Excellent’ on Trustpilot.
Crosspay Crowdfunding – How Drop Studio supported them
The creative team at Drop Studio understood that there was a need to communicate the issues prevailing in the global remittances industry. Subsequently, it was also important to position Crosspay as a platform that offers comprehensive payment solutions for B2C as well as B2B clients. We crafted the perfect crowdfunding video that encapsulated the above aspects, along with founder interviews and user testimonials. Have a look at the video below.
As part of our Fundraising Accelerator Program, Crosspay were provided with further tools alongside our creative support to help them execute a successful crowdfunding campaign on Crowdcube. For example, through our program they received our Investor Research, which helped them to grow their network of potential investors in their sector.
Crosspay Crowdfunding – Their journey on Crowdcube
Crosspay hit their crowdfunding target of £150,000 within a few days of launch and raised an impressive £212,163. With 251 investors onboard, Crosspay had overfunded by 141% as they reached the end of their campaign.
How Drop Studio can support you
Fundraising Accelerator – Our Fundraising Accelerator gives you all the tools to run a successful fundraising campaign and it comprises of 3 key services:
Crowdfunding Video Production (Applicable for Crowdcube/Seedrs, Kickstarter or Indigogo) – From writing creative film ideas and scripts to filming and editing with animation and 3D graphics, we create eye-catching videos to assist ambitious businesses in effectively communicating their ideas, products, or services. We also produce social assets from the video to be used to support your campaign.
Online Course and Campaign Manager (Applicable for Crowdcube/Seedrs, Kickstarter or Indigogo) – The Online Course gives you step-by-step instructions and detailed guidance on strategic crowdfunding and campaign planning. You’ll master how to plan and conduct effective campaigns on Crowdcube, Seedrs, Indiegogo, and Kickstarter as well as raising funds privately through Angel Investors. In addition, you will be assigned a campaign manager who will be on hand to support throughout your campaign and answer any questions you have.
Investor Research – Our Investor Research helps connect you with relevant investors. As a result, our investor research can help you onboard potential investors who may be interested in your campaign.
Pitch Deck – The pitch deck is a crucial document that you will need. We help you formulate the right pitch that has the potential to draw in investors. We ensure that your pitch communicates your mission, vision, and explains your business in a clear and concise way, whether it’s for crowdfunding or private fundraising.