1Above, a travel well-being company, is raising capital via equity crowdfunding platform Equitise. The New Zealand based company has created an anti-jet lag concotion that apparently works quite well. We all know the detrimental effects of jet-lag that can undermine quick trips around the globe. 1Above is currently sold online as well as in 250 outlets in New Zealand and throughout the world, including the United States, Australia and Canada. The US distribution is limited and the capital infusion will go a long way in rectifying this situation. Management states they earned NZ$2.4 million in revenue last year with forecast revenue for FY 2019 of NZ $12.87 million. While this funding round is open to all investors, you will be participating side-by-side with VCs Movac and K1W1. Movac was an early investor in Trade Me, PowerbyProxi, and Aroa Biosurgery and more. K1W1 was started by Warehouse Group founder, Sir Stephen Tindall. Their participation may be a good validation of the offer.
The funding round has already raised $1.5 million NZD with the public offer seeking an additional $1.5 million NZD for a $3 NZD million max total. There is plenty more information on the crowdfunding page on Equitise.
1Above CEO Stephen Smith said they have experienced a CAGR of 124% since launch;
“We’re going to ramp things up even further after this capital raise, taking this Kiwi founded company even more global. We’re delighted to offer allow wholesale and retail investors to share in our journey,” stated Smith.
Movac partner Mark Vivian is also a 1Above Director. He explained that the company has performed well in Australia and New Zealand – the additional funding will accelerate their US roll out.
“..we’ve got confidence in Stephen and his team’s ability to carve out a niche with 1Above’s unique products.”
Will Mahon-Heap, Equitise co-Founder & New Zealand Manager, said the opportunity was exciting not just due to the promise of the product but because smaller investors would be participating alongside expert investors.
“Movac and K1W1 are professional early stage investors. 1Above’s funding round is an opportunity that most Kiwis don’t usually get,” said Mahon-Heap. “At Equitise we’re thrilled that we get to work alongside 1Above, Movac and K1W1. This is exactly the sort of arrangement that we believe our platform can be used for – it is truly the democratisation of investment.”
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