With 15 days remaining on its Crowdcube equity crowdfunding campaign, the UK-based sports nutrition brand TRIBE, has raised nearly £1.4M with the confidence of over 1558 investors for 20.28% equity offered. Funding from the campaign will be used to help aid product development (more info due in late 2017), improve e-commerce tech, invest in digital marketing and support the hosting of unique future participation events.
TRIBE’s products are marketed as natural, tech-enabled and community powered. Sports bars, trail mixes and shake powders can be purchased in small or bulk amounts, with gluten-free, dairy free and vegan options. TRIBE avers that its products are formulated for performance but made from the highest quality natural ingredients.
To recap, since launching just 18 months ago, TRIBE’s customer base has grown to 25,000 members, also known as Tribe Pack subscribers, and more than 10,000 outdoor event attendees. With a £5,500,000 pre-money valuation, a revenue run rate more than £600,000 and consecutive month-on-month growth of over 20% since third quarter 2015, TRIBE aims to be lead the European sports nutrition industry by 2025.
“All TRIBE investors will play a big part in TRIBE’s evolution. All will be guaranteed a 15% lifetime discount and we will never release a product until every single shareholder has had a chance to road test it. We’re excited to welcome likeminded individuals to join the TRIBE,” explained TRIBE Co-Founder Guy Hacking.
In 2013, what became the TRIBE team ran 1000 miles in 30 days across Europe to fight human trafficking. Frustrated with refined sports products that didn’t give them the needed nutrition, cofounders Hacking, Rob Martineau and Tom Stancliffe started TRIBE in 2015, creating a “performance nutrition brand built for the future.” This past week TRIBE hosted a Crowdfunding City Run with over 150 participants that included a training session with Olympian Perri Shakes-Drayton.
For more TRIBE campaign information and financial details, click here.
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