EXTREME sports protection gear brand Ruroc is looking to raise £200,000 in debt finance through Crowd2Fund to support its expansion plans.
This will be the third time that Ruroc has used the peer-to-peer lending platform to obtain funding. It raised £150,000 of debt finance in 2014, followed by a £400,000 equity fundraising in 2015.
The firm said it has returned to Crowd2Fund again because of its ability to understand high-growth businesses, and to offer financial products relevant to Ruroc’s direct-to-consumer model.
“We have developed massively and our growth rate has accelerated far quicker than we forecast from when we first used the platform,” said managing director Dan Rees. “This has enabled us to successfully repay one of our Crowd2Fund loans 12 months ahead of the original planned repayment schedule.”
Ruroc, which designs and manufactures protection helmets used in skiing, snowboarding and motor sports, will use the new funding to grow its product range and expand into Asia.
This current campaign already has over 150 investors and offers investor incentives including discounts and limited-edition helmets.
Ruroc has more than doubled its revenue between 2016 and 2018 from £1.5m to £3.5m.
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