Crowdfunding has taken two Sydney entrepreneurs to new, furrier frontiers.
Catmosphere – the city's first space-themed cat café, where feline lovers can mix "catpuccinos" with cuddles – was launched in late July after co-founders Thomas Derricott and Wenee Yap raised 40,666 Australian dollars ($29,200) on crowdfunding platform Indiegogo. The amount was well above their initial target of A$35,000.
"There are a few reasons we gravitated towards crowdfunding," Derricott told CNBC. "Firstly, we weren't independently wealthy so we did need a bit of leg up. But more importantly we found that by launching a crowdfunding campaign, we were able to prove the concept before launching."
The project's donors were given a choice of perks based on the size of the contribution – from a Catmosphere tee for A$30 to the option of naming one of the cats for A$1,000.
Sydney's Catmosphere, which is a franchise of a Thailand-based café, houses foster cats and helps them socialize before they are offered for adoption.