Lumio Crowdfunding Case Study
The founders of Lumio have created an innovative platform that is set to revolutionise the personal finance space. Available as an app, Lumio, helps users connect their personal finances, identify lazy money and get matched with the perfect financial products that will help grow their money. The platform uses the same type of security as that used by world-leading banks. With 18,000 financial accounts already connected, Lumio are on a mission to help 1 million customers grow their money by 2024. The brand chose crowdfunding to fund their next phase of growth and chose us to spearhead the fundraising process. Having crafted several successful crowdfunding campaigns for financial products before, our team of experts were well-equipped to support Lumio’s fundraise on Crowdcube. Read more to learn how Drop Studio helped Lumio exceed their fundraising target by a whooping 457%.
Lumio – The Brand
Truth be told, money can turn out to be “lazy” if it’s not yielding returns over a specified period of time. Such is the belief of the founders behind Lumio, who have created an innovative app to manage and grow personal finances. Apart from managing and growing personal finances, the platform also provides customers with valuable insights. In other words, users can track their bills, direct debits and get notifications of the money going in and out of their accounts.
Available on iOS & Android, Lumio have over 6000 users to date and are anticipating a 20% monthly growth. The platform is registered as a PSD Agent by the FCA and uses the same security as world-leading banks. Lumio was also recognised as part of the top 100 Fintech Disruptor by BusinessCloud in 2020.
To fuel their growth and propel them further in the financial space, the brand decided to run a crowdfunding campaign with Crowdcube and chose Drop Studio as their crowdfunding consultants.
Lumio Crowdfunding – How Drop Studio supported them
After understanding the brand mission and the value which Lumio is bringing to the personal finance market, we were determined to craft the perfect campaign for the brand. Our creative team created the perfect crowdfunding video that highlighted the issues of personal finance and how Lumio can help users iron out these issues. Animated elements were also used to communicate the message. Take a look at their video below.
In addition to the video, the Fundraising Accelerator Program also offered Lumio our Investor Research, which helped them to grow their network of potential investors within their sector of operation. They also received guidance from our online course and campaign manager alongside our creative support. This in turn helped Lumio execute a successful crowdfunding campaign on Crowdcube.
Lumio Crowdfunding – Their journey on Crowdcube
Lumio hit their crowdfunding target of £250,000 within a few days of launch and raised a massive £1,142,708. With 1281 investors onboard, Lumio had overfunded by 457% 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.