Finisterre successfully raised £2,000,000

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Successfully funded

Capital at risk

overfunded

Finisterre

196%

Raised: £3,935,190

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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Idea

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