Natural sports nutrition brand TRIBE has closed its Crowdcube fundraising campaign eight days early, after needing only four days to reach its initial £1 million goal. Following a brief over-funding phase, TRIBE’s fundraising total finished at £1.75 million 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 to stay true to the brand’s heritage, which was a key focus for the founders, Guy Hacking, Rob Martineau and Tom Stancliffe, who launched the business in a family kitchen in 2015.
The ethos of the brand was to be a solution to a marketplace saturated in refined sugars and chemicals. Currently, TRIBE sells over 20 products as part of a tailored product subscription service, attracting over 25,000 regular customers. The brand also hosts regular free training events nationwide similar to those staged during the crowdfunding round, and plans to be the biggest natural sports nutrition brand in Europe by 2025.
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 13th May and a 6k London city run on 16th 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.
“Since inception, our community has been at our core and we’re delighted to have raised £1.75 million in partnership with those individuals our brand has been specifically built for,” Guy Hacking, TRIBE Co-Founder, said.
“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.”