1.4 million to keep innovating in the online world of luxury gifting

Challenge:
With two e-commerce platforms that clearly appeal to a niche and fully focus on online experience, the Kempen company quickly settled into the top of the fastest growing companies in Antwerp. The formula that founder Dries Boven had in mind is proving to be a success and the investments are paying off. More and more turnover is going abroad, and because a new round of capital is planned, founder and co-founder Frédéric Peeters enlist the help of The Harbour.
Approach:
The Harbour assists VOLEF (the company behind both e-commerce platforms) in the entire process towards capital raising. First, the advisors develop a detailed financial plan, tailored to the growth plans of the entrepreneurs. A substantiated valuation report will also be a powerful tool for further discussions with potential investors. The Harbour guides and pushes the young entrepreneurs, also to finally finish that pitch.
It quickly turns out to be more difficult than expected to raise all funds from one investor. The Harbour then supervises discussions with various investors who can mainly be an added value in terms of content. Eventually, four new partners - each with their own expertise - will be added to the story. Some existing shareholders are also increasing their participation.
Thanks to The Harbour's solid file, the house bank also pledges another loan, and gives PMV the green light.
Result:
The scale-up plans that were already in the pipeline are being launched. Most of the funding goes to marketing and software. But it is now also possible to focus on even more exclusive brands and a further internationalization of the web shops. LIFE is too short for ordinary stuff, and so VOLEF continues to innovate to stand out even more from other e-commerce players.
“We were mainly looking for a fresh and objective view, but also guidance and care. The Harbour was an important motivator, and we also have to be honest: without the advisors' plan, we would not have been able to convince the investors.”



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