The Cheeky Panda, a 100% ultra sustainable, low carbon, bamboo tissue product brand, officially closed its latest equity crowdfunding campaign on Seedrs with a total of £2,186,928 raised. The company launched the funding round last month and quickly doubled its initial £750,000 funding target.
Launched in 2016, The Cheeky Panda creates 100% ultra sustainable, low carbon bamboo tissue products. The company’s founders, Chris Forbes and Julie Chen, are using bamboo products as a solution to consumers and companies that are looking for organic, natural, and sustainable alternatives to everyday products. Its description reads:
“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!”
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 offered 1.40% in equity at a £52,649,748 pre-money valuation through the funding round.
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