UK-based extreme sports brand, Ruroc, has launched a new equity crowdfunding on Crowd2Fund to raise £400,000 for the design and launch of its road and motor certified helmet, along with the company’s other new products. The brand is known for its integrated ski helmet, goggle, and mask.
Since its launch in 2010, Ruroc’s helmets have been reportedly used by over 30,000 consumers and met its turnover 2015 growth forecast with close to £1.5 million in sales recorded in the last year. It also raised £150,000 in its first debt campaign on the crowdfunding platform. The company declared:
“In 2017, Ruroc will seek to evolve from a Snow Sports protection brand into an Action Sports brand with the launch into the Road category, specialising in SuperMoto & Streetfighter style helmets. Furthermore, this evolution increases their brand presence in the Snow category as the new road-worthy helmets would allow Ruroc to cross over into the Snowmobile market.”
Sharing details about the campaign, managing director of Ruroc, Dan Rees, stated:
“The [crowdfunded] loan raise was perfect for where we were. We’d just completed stage one of our MBO and acquired the majority stake in Ruroc. We needed to stabilise the business and understand exactly how we were going to take it from £1 million to £10 million. Now we have our road map and a product release plan for the next 5 years we know exactly what we are going to need not just financially but also internally.”
Also explaining why he and his team made the decision to launch the campaign during Brexit, Rees shared:
“We are determined to make the most of the opportunities which Brexit brings for a UK export company like ours. We are partnering with Crowd2Fund to allow us to raise finance and extend our investor team to meet the demands of an increasing global customer base online.”
So far, the campaign has successfully secured nearly £250,000 from 65 investors. It is set to close at the end of August.
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