The hand-iced biscuit maker set out to raise £550,000 on the crowdfunding website Crowdcube when it began its campaign on October 4. It surpassed its target within three weeks, and subsequently gained hundreds of investors from 31 countries, including Indonesia and Mexico.
Biscuiteers founder and md Harriet Hastings said: “We were overwhelmed with interest in our campaign. It was particularly lovely to have so many of our own customers among our investors.
‘Hugely excited by the new opportunities’
“We are hugely excited by the new opportunities this has created for the business and the marketing benefits that the crowdfunding campaign on Crowdcube has brought to the brand.”
The company – which currently supplies John Lewis, Selfridges and Harrods – said the money would be used to accelerate growth in its marketing, manufacturing, infrastructure, retail and international departments. It was profitable every year since its inception in 2007, and is currently turning over £3M.
Biscuiteers crowdfunding campaign – at a glance
- Raised £1.25M in one month
- Set target of £550,000 before launch
- Investment will be used for growth and international expansion
Crowdcube revealed the size of the average investment was £1,590, and the most common was £100. After securing the £1.25M investment, Biscuiteers became the 44th company to have successfully raised over £1M on the crowdfunding website.
‘Exciting phase of growth’
The website’s co-founder Luke Lang said: “With a track record of success and impressive growth plans, we're pleased our 300,000-strong crowd of investors have been able to back Biscuiteers and become part of its next exciting phase of growth.
“With over 780 investors jumping at the opportunity to invest in the award-winning business, Biscuiteers is now the latest business to successfully raise [finance] on Crowdcube bringing the total amount raised to date up to £195M.”
Meanwhile, watch the video below for more information on the Biscuiteers products.