Less than a year after raising £1,594,138 through its previous Seedrs round, The Cheeky Panda, a 100% ultra sustainable, low carbon, bamboo tissue product brand, has returned to the equity crowdfunding platform and has already more than DOUBLED its £750,000 funding target prior to launching the funding round publicly.
As previously reported, The Cheeky Panda explained that bamboo grows 30 times faster than trees and it is the natural sustainable alternative to tree-based toilet tissue. The company also revealed its founders Chris Forbes and Julie Chen are using bamboo products as a solution to people and companies that are looking for organic, natural, and sustainable alternatives for everyday products.
“While the major toilet tissue manufactures have focused on tree pulp, Bamboo is more skin friendly, luxurious alternative that is more sustainable and costs the same.Virgin Bamboo pulp is a naturally nutritious, flexible and softer commodity than tree bark.It’s naturally anti-bacterial, anti-fungal, hyper-allergic and odor resistant. Recycled paper requires chemical chlorine and de-inking agents to transform it. Not nice!! Bamboo on the other hand does not require any harsh chemical in the manufacturing process meaning that you get natural luxurious and soft tissues that are kind to your bum!”
The Cheeky Panda further explained that it is a category disruptor as it believes household tissue has seen very little innovation over the past few decades.
“Consumers seek more authentic and environmentally friendly brands and this is leading to mass adoption of the products and hundreds of 5 star reviews across multiple platforms including Amazon, Morrisions and Ocado.”
In regards to what this crowdfunding campaign’s funds will be used for, The Cheeky Panda added:
“While the company has a decent balance sheet, in order to support the purchasing of ever larger quantities of products to get sales to £20 million a year we are going need more working capital to support growth. It is not being used for salaries or other fixed costs.”
The Cheeky Panda is currently offering 1.40% in equity at a £52,649,748 pre-money valuation.
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