Hannun, a Spain-based D2C platform that sells furniture and home goods from local artisans, has secured more than €1.15 million through its equity crowdfunding campaign on Crowdcube. The funding round made its debut earlier this month, originally seeking €700,000.
Founded in 2017, Hannun described itself as a digital-native brand that designs, manufactures, and sells ethical furniture, through its own platform. The platform’s network of more than 25 artisans are based in Europe and use eco-certified, non-toxic, and recyclable materials.
“In 3 years, we have built a magnetic platform (5M+ annual sessions) and a relevant catalogue of 258 unique products. Besides, our warehouse-free business model is capital efficient, because our outsourced artisans ship directly to customers. With our values and social media strategy, we think Hannun is well-positioned in the €30Bn+ online European furniture industry (+8.1%/year market growth expected until 2024).”
Funds from the Crowdcube campaign will be used to accelerate Hannun’s expansion plans through its international marketing plan and supply chain improvements. The company is now offering 13.06% in equity at a €7.7 million pre-money valuation through the funding round, which is set to close mid-January.
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