The UK government is dipping its fingers into a potential money pot as it invests £170,000 in a start-up company that hosts adult parties in London and New York. The company announced on Wednesday that it has acquired financing from the British government's Future Fund as part of its effort to help startups ride out the crippling effect of the pandemic on the economy.
Future Fund "issues government funded convertible loans between £125,000 to £5 million to innovative companies subject to at least equal match funding from private investors. Currently there are 800 businesses that benefit from the fund since it was launched in May with approved loans amounting to nearly £513 million."
CNN Business reports say the adult hosting company Killing Kittens recently had a round of crowd-funding from Seedrs which raised £170,000 and was matched by Future Fund.
Killing Kittens was founded in 2005 with a vision that focuses on the pursuit of female pleasure. It prides itself in its thriving members-only patronage of 180,000 members spanning 12 countries organising exclusive masked parties in secured ritzy venues hosted by their purry female "kittens."
The company is valued at £11.5 million as its website boasts of its "world-famous parties designed to encourage, liberate, build confidence and allow experimentation all within a safe environment led by women."
The company guarantees unique adventures of the senses with its burlesque performances and signature one-of-a-kind experiences that has drawn in a 330% boost to its website during the lockdown.
Seeing as the ongoing economic slump has caused many companies to rely on digital marketing, the company plans to use the bulk of its funding to re-position its marketing strategies online by taking the plunge into the sex-tech industry. It has plans of aligning itself with popular dating apps which has seen a surge in demand amid the coronavirus outbreak. The company is also looking at launching digital ad platforms for products and services geared to gussy up sexual experiences such as lingerie and sex toys.
Killing Kittens CEO Emma Sayle says "I never envisaged Boris as a sleeping partner -- Killing Kittens has arrived on the digital scene and we're now pioneering the fastest-growing adult social network in the world."