Cuckooz crowdfunding round oversubscribed

George Sell George Sell Uploaded 05 May 2019

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UK: London serviced apartment operator Cuckooz has seen its Seedrs funding round oversubscribed.

The company is raising funds to grow its Cuckooz Nest creche and co-working brand, which currently has one site in Farringdon.

Cuckooz
raised £151,118 from investors, 50 per cent more than it initially sought, and valuing the company at £1.51 million. It currently has eight sites for its serviced apartments.

The additional cash will fund its expansion programme, including its next Cuckooz Nest property, near Old Street.

"After doing a lot of business travel over many years around the world and having been put up in hotels that often weren't that great for stays of up to three weeks, I and my co-founder Fabienne saw an opportunity to offer quality serviced apartments," said co-founder Charlie Rosier.

Cuckooz Nest was launched after Rosier had difficulty finding flexible child care provision in London for parents with children under two years old.

"We know from first-hand experience that combining work and family is not easy - there is no magic solution to make life lovely 24/7. Having launched Cuckooz Nest almost one year ago, we have already helped over 100 families achieve a better work-life balance."

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