Tiller Rides raised over $1 million with a $20k budget

Tiller Rides is a Perth-based post-revenue start-up specialising in beautifully designed, environmentally friendly electric bikes, integrating the latest technology to revolutionise urban riding by encouraging the switch to green transport.

Tiller Rides recently completed an equity crowdfunding campaign on Birchal, an equity crowdfunding platform which gives investors the opportunity to connect with brands, and invest in ideas they love.

I searched endlessly for the perfect urban bicycle. When I found something beautiful, the functionality had been lost; if it was highly functional, it gave little consideration to aesthetics. Wondering if it was me, or a wider problem, I began asking other urban riders if they had the same issues - and they did. It was time to create the electric bike we wanted and needed.

Tiller Rides came to Glide at a critical stage for a start-up: post-revenue, pre-production, and needing to raise capital to enter production and take Tiller Rides to the next level.

With bikes already sold on pre-order, they had proof that this was an in-demand product, and aimed to raise $1.3 million to get the Roadster into mass production – and to do that, they needed a marketing campaign for equity crowdfunding that would turn interest into investment.

The campaign was aligned with Birchal’s two investment phases. Firstly, an Expression of Interest (EOI) stage running for up to a month, with a set deadline; potential investors submit an EOI before the deadline. The next stage involves converting these qualified leads into actual investors by building awareness of the business and investment opportunity.

From copywriting to A/B testing and optimisation, Glide implemented a highly successful equity crowdfunding campaign via Facebook and Linkedin, driving EOIs and remarketing to convert into investment.

Rather than traditional paid advertising on LinkedIn, we used an outreach strategy, identifying members fitting ideal personas such as angel investors. We reached out to hundreds of new connections with tailored messages introducing the company, its products and the opportunity – getting the conversation started so that Tiller Rides could close the deal.

The End Result

We’re delighted that Tiller Rides’ equity crowdfunding campaign on Birchal was able to reach $1.067 million, with a marketing spend of only $15,000 on the campaign with Glide Agency.

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