Superstar ski sport brand Ruroc closes successful £167,000 funding round with Crowd2Fund
UK’s crowdfunding startup Crowd2fund today announced that Ruroc, creators of the world’s first fully integrated ski helmet, goggle and mask, has successfully raised a £167,000 revenue loan with high demand for investment on its platform. Ruroc gained exposure to over 12 million people in the 30-day campaign through its use of Crowd2fund’s platform– making it one of the most successful crowdfunding projects to date for the FinTech company.
Ruroc, first established in 2010, has a strong presence in the ski marketplace. Its helmets are used by over 20,000 people worldwide and are frequently seen in the Formula One Pit lanes on Sky Sports.
It currently turns over more than £1 million annually and has been experiencing double digit revenue growth year on year.
The company will use the funding to produce a helmet for use across a number of sports including road and mountain biking, as well as a selection of other action sports. Additionally, the funds raised will be used to increase production efficiency, further increasing their international exports.
Commenting on the funding round, Daniel Rees, MD of Ruroc said: “Crowd2Fund’s revenue loan was a massive attraction for us as we are a seasonal business and this offers a much easier solution than making fixed monthly repayments. It is also a great way to access necessary funds in a short period of time, especially as the banks are often out of touch with how businesses operate. We needed to access funds at a good rate without the timely and bureaucratic process of using a bank. Happily, we found that Crowd2Fund not only offered the right product and rates, but that they were also a platform offering a unique way to market and grow our army of ambassadors.”
Rees believes crowdfunding was the most appropriate way to raise funds from the company’s existing evangelists. The revenue loan suits businesses such as Ruroc which are seasonal and require the added repayment flexibility. “We didn’t know we could raise a loan on a crowdfunding platform until we met Crowd2Fund, it was perfect as it meant that we didn’t need to sell company equity,” he said.