Akshay Ruparelia’s fast-expanding online estate agency launched a second crowdfunding round this week – and smashed its £400,000 target within seconds of the offer going live.
Doorsteps.co.uk has gone from strength to strength since its launch almost two years ago: by the end of 2017, it had listed more than 3,000 properties, or nearly 1% of the UK market.
Akshay (OE 2009–2016) made national headlines last year after the first fundraising, with the young entrepreneur’s age attracting journalists’ admiration. Now, as Chief Operating Officer and joint founder, he is fronting the fundraising drive, which will pay for more staff and additional investment in technology as the company grows.
“We are absolutely delighted to have hit 140% of the target within less than 30 seconds of going live,” said Akshay. “We will continue to overfund, allowing more aggressive expansion and a clearer path to becoming No.1 Estate Agent in Britain, so there is still an opportunity for Old Elizabethans to make an investment.”
In a promotional video on the Crowdcube crowdfunding site, Akshay explains the company’s core approach of offering its customers low prices, good service and a simple process. He also outlined Doorsteps’ philosophy of achieving growth through recommendation, rather than heavy spending on advertising. “Our online reviews just get better and better,” he adds.
“Our target for this year is 2% of the UK and I am pleased to say we are on course for just that – but we need to hire more account managers, more customer service agents and employ just a little bit of technology to help us cope with the level of demand, hence this fundraising.” Equity of 3.26% was offered for the £400,000 sought through crowdfunding.
Akshay revealed a little of the estate agency’s future plans. “We want to continue the Doorsteps way and offer even more services to make the house-buying and selling process even easier. Sadly, I cannot reveal all because we know that our competitors are watching, but I can say that we recently launched Doorsteps Conveyancing and Mortgages to make the process seamless.
“Last July we were in the top 50 estate agents in Britain; today we are in the top ten. Trust us again and help us to finish the job: let’s get to Number 1!” he tells potential investors.
• The fundraising continues on Crowdcube for another 28 days. Akshay is happy for alumni to contact him directly on [email protected]
In recent months, Bilal has featured in a number of BBC news and current affairs programmes and has launched
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After leaving QE, Bilal read Theology at Cambridge. While there, he met the three friends with whom he launched the Over the Bridge podcast in March this year.
George Mpanga (OE 2002–2009), a keen advocate of social justice, investigated how and why the capital’s poor residents are losing out as council homes disappear in the first of this month’s Inside Out London programmes on BBC1. He also stars in a new commercial reflecting on the wonder of Planet Earth and the transitory nature of human life.
In his closing remarks, George concluded: “Redevelopment does not have to end this way, with former tenants displaced, neighbourhoods gentrified. Redevelopment can actually empower communities, but for that to happen, we need to ensure this beautiful city does not lock out the very people who make it what it is.”
All these opportunities, and others besides, have come about through Warwick University, where Jonathan (OE 2008–2015) is now completing his Civil Engineering degree.
Between Canada and Teach First, Jonathan spent six weeks in Tanzania as part of Warwick University’s Warwick in Africa programme.
Yet, even though the team were eminently suited to the challenge – Piers (OE 1987–1994) is a high-performance sport and business consultant and a former national-level swimming champion, while two of his fellow team-members are water polo coaches – the swim almost didn’t happen.
On the last couple of days, the CSPA told us that the weather was getting worse and we would have to look for a date in September, perhaps even next year.”
“We returned to Dover and went for it. And rough it was. We started the swim at midnight from Shakespeare Beach, and the initial hours in the dark were against fairly strong swell. The waves did calm a little as the sun rose and we started making good time. Our pilot got us to within metres of Cap Gris Nez and we finished in 13 hours and 3 minutes.”
Currently Managing Director of the Podium Performance Group – a consultancy that supports organisations, teams and individuals to develop optimised performance – Piers has also led and advised a range of Olympic and Paralympic sports.
At this point in the programme, Robert (OE 1989–1994) says: “Imagine writing that, how your four sisters, your brother and your parents were wiped out.”
After the war, he was brought to the UK by a Jewish charity, the Central British Fund. He later met and married Lottie, Robert’s grandmother. Morris died in London in 2001 at the age of 78.
Robert is also seen visiting Lake Windermere, where Morris arrived, and watches footage of the orphans’ journey to England. “As I approach Windermere, I imagine what my grandfather would have felt coming from the dankness and greyness of Schlieben into this – big sky, and green, verdant English loveliness.”