The Cheeky Panda smashes crowdfunding target with £1.3m raise
Sustainable products business The Cheeky Panda has exceeded its crowdfunding target by over £250k less than 48 hours after the campaign’s launch.
Specialising in environmentally friendly bamboo tissue products, the green firm launched a crowdfunding campaign on equity platform Seedrs with an aim of attracting £750k in investments.
The Cheeky Panda co-founder Chris Forbes commented: “We were aiming to raise £750,000 at a £25m valuation, so when we had £1.3m allocated after just 48 hours, it was a bit of a surprise as we had hit our stretch target!”
Founded in 2016, the business has secured distribution deals with several national retailers including Boots, WHSmith, Ocado and Morrisons and online marketplace Amazon, capitalising on the increased consumer demand for sustainable products.
The company plans to use the funds raised to accelerate growth and expand on its international footprint, with its products already being stocked 20 countries around the world.
Julie Jen, co-founder of The Cheeky Panda, added: “Increasingly consumers are integrating products that offer sustainability into everyday life. Our products enable consumers and companies to take a step towards a more eco-lifestyle without compromising on quality.”
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