One to watch
Natural sports nutrition brand TRIBE has closed its Crowdcube fundraising campaign 8 days early, after needing only four days to reach its initial £1m goal. Following a brief over-funding phase, TRIBE’s fundraising total finished at £1.75M from a total of 1,833 investors, who now hold a 24.14 per cent equity in the brand.
All investors are current TRIBE members, ensuring that in keeping with its brand heritage, TRIBE members will be at the core of the brand’s future.
Keen to involve its community, TRIBE took a unique crowdfunding approach by hosting two participation events for potential investors to meet TRIBE’s three co-founders. The two events, a London to Oxford 65-mile bike ride on 13 May and a 6k London city run on 16 May, attracted 170 runners and riders to experience ‘the TRIBE way’ first-hand, before investing. An additional Olympic Special training event with Olympian Perri Shakes-Drayton also attracted a further 50 attendees.
Founded in a family kitchen by lifelong friends Guy Hacking, Rob Martineau and Tom Stancliffe, TRIBE was launched in 2015 as a solution to a marketplace saturated in refined sugars and chemicals. From early days in neon pink pouches, TRIBE has since become one of the most interesting natural sports nutrition brands on the market and plans to be the biggest natural sports nutrition brand in Europe by 2025. Currently, TRIBE sells 20+ products as part of a tailored product subscription service, attracting 25,000+ regular customers. The brand also hosts regular free training events nationwide similar to those staged during the crowdfunding round, attracting over 10,000+ event attendees to date.
Guy Hacking, TRIBE Co-Founder, said: “Since inception, our community has been at our core and we’re delighted to have raised £1.75m in partnership with those individuals our brand has been specifically built for.
“The support for this fundraise has been phenomenal and this significant investment can propel TRIBE as a market trailblazer in 2018 and beyond. Significant increases are planned for our bespoke product service and participation event offering, both of which will directly benefit our investors, customers and future members alike.”
For more information on TRIBE’s successful campaign, visit www.crowdcube.com/tribe.