Leeds-based decorator Awesome Merchandise has closed its month-long Crowdcube equity fundraising campaign having raised a total of £670,190 from 1,124 investors for 10.61% of equity.
The initial target was £350,000, but when that target was smashed less than two weeks after launching the campaign, the company decided leave the campaign open until 13 September 2018.
Co-founder Luke Hodson said: “We are excited and grateful to have overfunded and had such a strong response to our crowdfund raise. Over 1,000 investors have backed what we are doing and to raise more than £600,000 marks the start of a new phase for Awesome.”
The investment is being used to speed up the development of Awesome’s new US facility in Austin, Texas, as well as the launch of its new ecommerce platform.
“Plenty has happened since the start of our Crowdcube raise,” explained Luke. “In Leeds, we’ve launched a bunch of new products, been extremely busy with orders and welcomed new people to our team. In the US, we’ve printed the first T-shirt orders, made some hires and the factory is now officially open after we received our certificate of occupancy.”
In the coming months, the company will be launching its US website and introducing euros onto its UK website. Luke added: “New and experienced team members will be coming in across both the UK and US Awesome locations to help us as we ramp up. Our product team is working hard on exciting new products and we will be working hard to keep improving on the customer experience. We are excited for the future.”