Founded by CEO Brianne West, Ethique was an early adopter of equity crowdfunding having raised capital on PledgeMe back in 2015. The campaign launched and raised over $200,000 in just two weeks.
Since this early funding round, Ethique has experienced solid growth. Last year, the company grew 350% and achieved just under $1 million in sales. Ethique is currently exporting to both Australia and the United States. West, who is on a mission to rid the world of plastic bottles, stated;
“Since we raised money last time, we’ve been busy. We’ve gone from our home kitchen, into a small factory, into a new 780 square metre premise in June 2017 whose warehouse we are struggling to keep full. After huge interest in the United States in 2016, including social media shares from Britney Spears and Ashton Kutcher, we decided to focus on the American market” commented West.
West explained they are selling through Amazon and have partnered with Pharmapacks, the largest online pharmacy in the US who also work with Unilever, Kérastase, Revlon and Neutrogena.
“Now, with the huge growth we are experiencing, we are raising capital again,” said West. “We’ve decided to crowdfund again because we love involving our customers and supporters as much as possible in all facets of our business and bringing them along for the ride.”
Ethique Limited is expecting to raise a minimum of $350,000, and up to $500,000, which represents a 2.3% – 4.7% equity ownership of the company, at $8 per share with a minimum investment of $504. Existing shareholders will receive priority access first, with a public offer to commence on September 29th.
PledgeMe founder and CEO Anna Guenther said it was exciting to see a company come through for a second round of equity crowdfunding.
“Over 80% of the first round of investors were Ethique customers, so it’s awesome to see them get another opportunity to own a piece of the brand they love.”
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