They sold their family car and home to build a wedding-gift business. By 2018, it was a £10 million business

A simple idea for an online wedding gift list eventually grew into a business generating £10 million in annual revenue after UK couple Dom and Ali Beaven put £50,000 into launching Prezola.

The idea began with Ali in 2008, when she wanted to add her favourite things from her favourite shops to one online gift list. The aim was to give friends and family a helpful idea of what to buy, but at the time, nothing like it existed.

After researching the concept, the couple founded Prezola in 2011, with the website going live that September.

How Prezola Started With a £50,000 Investment

The couple had £50,000 to fund the launch of Prezola. The money came from friends and family as well as their own savings.

That funding was enough to build the first version of the website, although it left little money for marketing. To fund the company's first advertising campaign, the couple sold their family car, a Land Rover.

A supportive bank then helped Prezola through its first couple of years, taking the business to its first £1 million in revenue.

Wedding-Gift Business Expands Beyond £1 Million Revenue

As the business grew, the couple needed more substantial funding to support further expansion.

They sold their family home to fund further development of the website, move into larger premises and acquire GettingMarried.co.uk, described by Growth Business as the UK's leading wedding website platform.

With the additional cash and the expanded business, Prezola's annual revenue rose from £1 million to £2.5 million, then £5 million and eventually £10 million.

The group was managing more than 5,000 wedding gift lists and 15,000 wedding websites each year while continuing to grow rapidly.

Prezola Becomes a Major Wedding-Gift Platform

Prezola was built as an online alternative to traditional department-store wedding gift lists. Couples could choose from 50,000 products from more than 500 brands, alongside options including honeymoon funds, cash contributions and charity donations.

The company also owned GettingMarried.co.uk, the wedding website platform it acquired as the business expanded.

According to Growth Business, Prezola had helped more than one million customers buy gifts for thousands of couples across the UK and had become the market leader.

£3 Million Investment Fuels the Next Stage

By 2016, the company was beginning to feel the strain of its rapid growth. Cash remained tight, particularly during the winter low season, while its headcount was approaching 50.

Prezola's bankers, RBS, introduced the company to BGF Capital in November 2016. After meetings, proposals, due diligence and an audit of the company's accounts, the transaction was completed on May 12, 2017.

BGF provided £3 million in new capital, which arrived in the company's bank account that evening.

The money was intended to increase management capacity and experience, with plans to appoint a new finance director, product director, operations director and chairman. Prezola also planned technical development across its platforms and increased user acquisition and marketing activity.

From an initial £50,000 used to launch the business, Prezola had grown into a company generating £10 million in annual revenue by 2018.