From business plan to belief: the slow work of turning conviction into capital

Chapter 3

With the business plan complete and the structure firmly in place, the next step for Cluberly was to raise funding. On paper, this felt like a natural progression. In reality, it proved to be one of the most demanding and instructive phases of the journey to date.

Despite the care taken to design the company around Enterprise Investment Scheme eligibility, securing early capital was far from straightforward. Many investors were hesitant to be first in. Others, particularly those operating EIS-focused funds, expressed a preference for revenue-generating businesses, a stance that rather neatly defeats the purpose of backing early-stage companies. For a pre-launch business, this created an immediate paradox: too early for some, yet structurally built for exactly the type of investment they claimed to support.

Layered on top of that was the sheer volume of time spent navigating conversations that led nowhere. To say that “you have to kiss a few frogs” would be a considerable understatement. Meetings, follow-ups, requests for information and enthusiastic early signals frequently failed to convert into meaningful progress. It was frustrating, often draining, and at times tested the patience of the entire team. But the work continued regardless.

Slowly, and through persistence rather than shortcuts, momentum began to build. Private angel investors, willing to engage with the model on its merits rather than its stage, started to come on board. These were individuals who understood what the company was trying to achieve, accepted the realities of pre-revenue businesses, and valued the long-term opportunity over short-term certainty. Bit by bit, the funding round began to take shape.

In parallel, development of the app moved forward steadily. Building the platform itself was not the primary challenge. The real complexity lay in integrating multiple APIs, each with their own requirements, processes and approvals. What might appear seamless to a user often masks months of documentation, compliance checks and back-and-forth between departments. That process was made even more labour-intensive by the fact that Cluberly was doing things most fintechs do not: donating 50% of its primary revenues to good causes and embedding features designed to support clubs, charities and schools directly.

There were moments where progress felt slow, and at times unnecessarily so. Yet for every frustration, there were far more positives. The reaction from the community has been overwhelming. Conversations with clubs, supporters, charities and schools consistently returned the same response: enthusiasm, encouragement and impatience. People were not only supportive of the idea, they were actively talking about it, sharing it, and asking when they could get involved.

That enthusiasm has been a powerful reminder of why the company exists. While the pace has occasionally felt closer to the tortoise than the hare, the time has not been idle. Relationships have been built carefully, with organisations that will form the foundations of the platform. Numerous clubs, charities and schools are already waiting to become early affiliates. Initial sponsorship arrangements have been put in place to understand how meaningful impact can be delivered in practice, not just in theory. Partnerships have been formed with like-minded businesses that share the same desire to do good in a commercially sustainable way.

As this funding round moves closer to completion, there is a growing sense of anticipation. Not because the journey has been quick or easy, but because it has been deliberate. With the groundwork laid, relationships established and support building across the community, attention is now firmly turning towards launch and the next phase of turning preparation into reality.