Femcare startup Callaly has raised over £1m from the crowd to fund international expansion across Europe.
The UK-based B-Corp, which created the ‘tampliner’, has smashed its crowdfunding target ahead of launching to the public on Crowdcube and has so far raised £1.1m from 268 investors.
The business is offering 5.8% of its equity for a valuation of £18.3m.
During the coronavirus pandemic, Callaly has reported “positive growth”, with new UK subscribers rising over 160% between March and May.
The DTC femcare brand will use the funds raised from the crowd to continue “in its mission to offer better solutions for women’s health at much higher standards” as well as expanding internationally, launching in Sweden, the Netherlands and Ireland this month.
The cash will also help with regualtory matters to enter the US and Chinese markets.
“We have always put our customer and community at the heart of our business and there is no more powerful way to do that than by giving them the chance to be part of our journey,” co-founder and CEO Thang Vo-Ta said.
“We know people are looking for meaningful products and sustainable impact from the brands they purchase from. This marks an opportunity for us as a company built on innovation and purpose.
“The crowdfund comes as we take our groundbreaking innovation, the tampliner, to Europe. This is just the first step in a global ambition and paves the way for further product innovations to radically improve the lives of people with periods.”
Delivering organic cotton period products via subscription, Callaly invented and patented the tampliner – the first significant tampon innovation in over 80 years. All of the company’s packaging is also recyclable or biodegradable.
This was Callaly’s first crowdfunding campaign after having raised £7.9m through private investment and government funding.