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139%
Raised
£2,098,370
Investors
1330
Target
£1,500,000
Equity
10.71%
Pre-money valuation
£17,500,000

GripIt is the ‘World’s Ultimate Plasterboard Fixing’, designed by Jordan Daykin at the age of 13, and backed by Deborah Meaden. Stocked in over 5,000 UK stores, the company has grown 350% in revenue year on year for the last 3 years, with £3.95m revenue forecast for 2017.

  • The product is now exported to 32 countries worldwide
  • First Crowdcube raise in March 2016 hit £2m funding within 5 days
  • Patent applications are pending for 3 products invented by the company
  • Raising funds to develop and launch new products
Information Following a number of discussions with investors, the GripIt team have opted to reduce the business's valuation in this round from £20m to £17.5m. Owing to ongoing discussions, the campaign has been extended and will now end on the 28th of March.

Idea

GripIt is the ‘World’s Ultimate Plasterboard Fixing’, holding extreme loads of up to 330kg and is designed to be the only fixing on the market which can fit into any plasterboard application.

GripIt is stocked in over 5,000 UK stores across the UK in household names such as B&Q, Screwfix, and Wickes.

In the last three years, the company has grown 350% in revenue year on year, and has sold over 6.5 million fixings worldwide to date. Making certain assumptions of fixings per house, we estimate our potential market for fixings at c. 4 billion fixings per annum worldwide; our aim is to achieve a 2.7% market share in the 3 years.

Highlights to date:

- One of the youngest and most successful Dragons Den entrepreneurs

- Backed by Dragon, Deborah Meaden

- Made in Britain

- stocked in over 5,000 UK stores

- Exporting to 32 countries worldwide

- Creation of 30+ jobs

We are back, one year later, after our first Crowdcube raise in early 2016 where we raised £2 million in just 5 days. We invested these funds into a fully automated assembly line, and developed the structure within the company, to ensure we can meet the ever growing demand.

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Risk warning

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.

GripIt has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.