Finisterre successfully raised £2,000,000

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196%

Raised: £3,935,140

Investors: 1992

Target: £2,000,000

Equity: 26.35%

Pre-money valuation: £11,000,000

Finisterre is a direct-to-consumer outdoor brand, built to inspire a love of the sea. Quality, innovation and sustainability run right through the range, appealing to a large and growing global community of 75,000 customers. £6.7m in sales and poised for further growth in the UK and internationally.

Authentic, founder-led brand with B-Corp status
Known for product quality, sustainability & innovation: 4.8/5* rating
Highly engaged customer: 75k+ globally, 60% repeat revenue
Investment led by Active Partners (Rapha, LEON, Soho House)

Idea

Finisterre was founded by Tom Kay - a surfer, volunteer lifeboat crewman, and ocean swimmer. Taking inspiration from the natural world, Tom founded Finisterre to build a brand that emotively connects people to the sea.

Quality, innovation and sustainability run right through our product range - from recycled polyester synthetic down jackets to recycled nylon boardshorts, delivered with commercially attractive margins.

We are a digital business with a content-led acquisition strategy – tapping into a global customer base who share our interests (historical CAC <£20). Online accounts for >50% of revenue, growing at 60% y-o-y over the past quarter. We support our digital business with experience-led retail stores, bucking high street trends and growing at 15% through 2019. Overall the business has grown x10 in the last 7 years (£6.7m revenue, -£0.9m EBITDA, year ending Oct '19).

In 2018, Finisterre became B-Corp certified, meaning we have been independently verified to the highest level of accountability, transparency & sustainability - achieved only by a handful of outdoor brands globally.

Our growth plan:

- Accelerate digital growth, scaling our platform in the UK and launching internationally – starting with the USA

- Selectively open 8 further stores to build community engagement and support digital growth in these regions

- Continue to invest in talent to drive product innovation.

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Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Idea

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