Extreme sports brand Ruroc announced on Tuesday it has returned to Crowd2Fund to raise £200,000 of new debt finance (estimated APR of 10%) to facilitate its expansion into a number of new overseas markets, alongside their continued efforts to develop a range innovative products.
Founded in 2010 and subjected to a management buy out in 2015, Ruroc reported it designs and manufacture high-quality extreme sports helmets. Under managing director, Dan Rees, the company has rapidly increased its fortune by growing income and awareness of the brand globally. As a result, between 2016 and 2018, the company’s revenues have more than doubled, expanding from £1.5 million to £3.5 million.
“The Ruroc product range consists of protection helmets, suitable for a range of different sports including skiing, snowboarding, and motor sports. The company has a track record of innovation, with the RG-1 helmet being the world’s first fully integrated ski, helmet goggles, and mask. Additionally, all of Ruroc’s helmets and goggles incorporate the Magloc ventilation system; this is company owned patented technology which is the only system on the market to combat goggle fog.”
In the past, Ruroc raised £150,000 of debt finance, followed by a successful £400,000 equity campaign in 2015. Both of these campaigns were run on Crowd2Fund and notably resulted in a combined total of more than 200 brand advocates backing the company. Since last being on the Crowd2Fund platform, Ruroc’s growth has outstripped initial expectations, which has allowed them to pay back their original crowd loan ahead of schedule. Rees added:
“We have developed massively and our growth rate has accelerated far quicker than we forecast from when we first used the platform. This has enabled us to successfully repay one of our Crowd2Fund loans 12 months ahead of the original planned repayment schedule.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!