THE UK’s fastest-growing home architecture firm – HOKO – has raised more than £420,000 in just two weeks as the £15 million-valued firm prepares to become the undisputed UK market leader in its field within the next five years.
Almost 200 investors have already backed HOKO’s ongoing Brick By Brick crowdfunding campaign – which aims to raise at least £500,000 to fund the opening of 30 new studios across the UK and a first overseas studio.
The launch of the high-profile campaign gained national attention when HOKO founder Danny Campbell announced the creation of the ‘world’s most expensive brick’, which investors receive in return for putting £25,000 into the business. Already several major backers are ready to receive their limited-edition, custom-made blue HOKO brick – a symbol of the firm and architecture’s future.
The crowdfunding campaign has also attracted backing from investors who put money into HOKO in its first investment round in 2019.
Danny, who has this year overseen a successful UK regional expansion leading to a 1,000% increase in clients, said: “We are already blown away by the response from investors so far – we know we are building something big and to see so many people show their faith by backing us is special.
“Every investor is helping to shape not only HOKO’s future, but the future of home architecture. We are so close to our target now, but there’s still a chance for people to join us on this fantastic journey. Brick by brick, we can build a better future for home architecture.”
Scottish architect and 2021 Great British Entrepreneur of the Year Campbell, 30, founded HOKO in Glasgow in 2019 with the objective to fix a ‘broken’ industry by creating the perfect ‘one-stop-shop’ client experience for homeowners seeking to improve living spaces with the help of architects, trusted builders and a free interior design service.
In the short time since, HOKO has grown to be worth more than £15 million, helping more than 400 clients complete projects the length and breadth of the country.
HOKO – ranked in the top five architecture firms on Houzz out of more than 15,000 – expanded across the UK earlier this year opening new studios run by project architects in Inverness, Bristol, Brighton, Birmingham and two in London, also adding to its service in Edinburgh and Stirling, all against the backdrop of the Covid-19 pandemic.
The firm has grown its team too, more than doubling headcount to 30 in a year when RIBA research suggests registered practices across the architecture industry have cut new hires by 5%.
The moves came as the firm also launched two new services – HOKO Build and HOKO Shop – meaning the whole process can be delivered in one place in an average time of fewer than 190 days.
Despite being in BETA testing, HOKO Shop and HOKO Build have already delivered more than £300,000 this financial year to date, with HOKO on track to turnover £1.4 million – a predicted YOY rise of almost 240%. The predictions follow revenue growth of almost 500% between 2019 and 2021 to £368,000.
With further national and international expansion in the pipeline, HOKO has forecast annual revenue to exceed £50 million by YE 2025.
Described as ‘Uber for architecture’, HOKO has already attracted backing from world-class investors Donald Wilson, Graham Campbell and Warren Gee, who see the firm’s potential to be a world leader in its field and now sit on its board.
HOKO Design’s crowdfunding options in this round of crowdfunding begin at £25 rising to £25,000.
