Perfect World has committed to running out its full 60-day Seedrs campaign in spite of hitting its target within a week.
The reduced-calorie ice cream brand kicked off its first crowdfunding initiative on 19 February, offering 3.45% equity in exchange for £100k. It passed the 50% mark within hours, thanks in large to an anonymous investment of almost £30k.
The brand’s push reached 100% at the weekend. At the time of writing, it was overfunding at £155%, having attracted a total of £155,340 from 247 investors – equivalent to 5.26% equity.
With another 50 days to go for the campaign, Perfect World risks having to pass on a significantly larger share of the business than intended. Nevertheless, it says it will continue fundraising, using the additional money to further ramp up planned growth.
Perfect World – which claims to be the UK’s first stevia-sweetened ice cream – intends to invest in an April relaunch, reformulating its dairy-free recipes to be vegan with no added sugar and fortified with 12 key vitamins and minerals. Funds from the Seedrs campaign have also been earmarked for expansion with Ocado and in Europe via listings in the Netherlands.
With the success of its crowdfunding, the business was “now able to look at ways in which we can achieve even faster expansion” said co-founder and CEO Chris Conklin. “There is a lot of consumer demand for genuinely healthy and delicious treats like ours, both in the UK and abroad, so we are working hard to get it out to consumers everywhere.”
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