As part of the run up to our 30th Anniversary of EIS Celebration event, we are shining the spotlight on success stories of businesses that have grown using the Enterprise Investment Scheme (EIS) or the Seed Enterprise Investment Scheme (SEIS).

These stories demonstrate why it is so important for us to celebrate and support the schemes so they can continue to boost the UK start up ecosystem.

“[S/EIS funding has] been absolutely crucial for us” says Laura Harnett, Founder of Seep, award-winning eco cleaning tool brand

We spoke with Laura to learn more about how Seep used both the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme to grow into a success story.

How important has SEIS/EIS funding been to your startup?

“It’s been crucial so far as a way of getting angel investors and EIS funds to support our growth.” “We’ve done two funding rounds, a small one initially with friends and family and the S/EIS gave them an added incentive to back us which was very welcome since they’re not big investors. Then when we did our seed round, a few experienced angels with lots of value-add joined our investor base plus an EIS fund called Syndicate Room.”

“Without S/EIS funding we wouldn’t have raised 95% of our funding, it’s been absolutely crucial for us.”

“This incentive has also allowed us to tap into the collective expertise of these investors too, they value has gone way beyond just the money.”  

What has SEIS/EIS investment enabled you to do?

“We’ve used the investment to significantly improve our branding and packaging, to grow our team and bring in experts like email specialists, website developers and sustainable materials technologist to help us continue our growth.”

How are you changing the world?

“Seep has a created a range of plastic-free cleaning accessories that work brilliantly, are kinder on the planet and that look great next to your sink.” “Our sponges and cloths are compostable and made from renewable sources and unlike the traditional washing up sponges, they don’t release microplastics every time you use them that impact the environment and your health.”

Want to discover more EIS and SEIS success stories like this one?

You can read more stories of how businesses have grown using the schemes here. Finally, if you are a founder and would like to share your EIS success story, please contact us here.

Learn more about the 30th Anniversary of the EIS event