Ex-Tesco CEO Sir Terry Leahy is the latest figure to get on board with crowdfunding, choosing Seedrs as a platform to raise finance for his new venture Houseology.co.uk.

Founded in 2010 by award-winning interior designer Kate Mooney, Houseology is a tech-driven interior design website aimed at simplifying the home design process for busy customers. Leahy came on board as the company’s board advisor after leaving Tesco in 2011, and is fully supportive of crowdfunding being the right move for the business.

Sir Terry told The Mail on Sunday: “Crowdfunding is beginning to get a track record of success. There is a sea change happening in the market”

“Crowdfunding is growing in popularity – particularly for certain types of businesses. Houseology is the kind of company that is particularly suited because it’s a consumer business with a broad and discerning customer base and many of whom would also be investors.”

Commenting on the business, he said: “Kate’s vision is to transform the interior design space & home-wares market the same way Net a Porter transformed the fashion industry. With her expertise and passionate team, combined with our Board’s considerable experience, we’re confident the business will continue to go from strength to strength.

Houseology, previously trading as Occa-Home, sell designer interior collections alongside showcasing how-to-guides, videos and interviews to give customers a ‘bespoke’ experience, making interiors simple and inspiring. The business is seeking £1 million of investment, and is already halfway to raising the amount after just three weeks. With over £8.9m of sales to date, the business has served over 30,000 customers in over 90 countries and stocks over 200 designer brands and 20,000 products. The investment amount will be used to grow the business at home and internationally, and invest in new technology for the site.

For more information, visit their campaign page on Seedrs here.

Miranda Wadham on 28/12/2015