The Road to Breaking Records: MATE X’s Crowdfunding Success

The Road to Breaking Records: MATE X’s Crowdfunding Success

In the bustling streets of Copenhagen, where 62% of the population bikes to work daily, siblings Julie and Christian found inspiration for a game-changing idea. While the city’s cycling infrastructure is top-notch, they recognised that not every town is as bike-friendly. To make cycling more accessible worldwide, they designed a prototype for an eBike that was not only affordable and foldable but also undeniably cool.

From prototyping to Crowdfunding success.

Their first venture, MATE, became a runaway success, raising over $6.8 million on Indiegogo in 2016, setting a new standard for crowdfunding in the eBike market. However, the siblings were not content to rest on their laurels. Armed with the lessons learned from their first campaign, they embarked on a journey to design an even better eBike — the MATE X. But this time, they knew they needed more than just a great product; they needed a winning strategy.

Indiegogo, known for helping innovative products reach global audiences, became the launchpad for their next success. MATE X didn’t just meet expectations; it raised over $17 million, breaking all previous crowdfunding records on the platform. Combining the funds from their first campaign, Julie and Christian raised an astounding $24 million, solidifying MATE’s place in eBike history. Their story offers valuable lessons for anyone considering crowdfunding to launch their product.

5 tips for creating a successful crowdfunding campaign

1. Create a Compelling Story: People are more likely to back a project if they feel connected to its story. Share your inspiration, challenges, and vision in a way that resonates with potential backers.

2. Invest in High-Quality Visuals: First impressions matter. Use professional images and videos to showcase your product, highlighting its features and benefits. A well-produced video can significantly boost your campaign’s appeal.

3. Ensure a Well-Designed Product: Your product is the star of the show. Make sure it’s not only functional but also visually appealing and innovative. A well-designed product with a great prototype will give potential backers confidence in your idea.

4. Build a Community Before Launch: Start building an audience even before you go live. Engage with potential backers on social media, share sneak peeks, and create anticipation for your campaign. Early supporters can help generate momentum.

5. Offer Attractive Rewards: Incentivize backers with exclusive offers, discounts, or limited-edition products. The more enticing your rewards, the more likely people are to pledge.