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Successfully funded
overfunded
GripIt
100%
Raised
£1,007,470
Investors
787
Target
£1,000,000
Equity
4.26%
Pre-money valuation
£22,500,000

As seen on Dragons Den, GripIt is the World's Strongest Plasterboard Fixing. Designed as the ideal solution for hanging anything on Plasterboard Walls, GripIt is now stocked in 32 countries worldwide. The company has grown 42% in the last year, and raised over £4m in its last two Crowdcube raises.

  • EBITDA Breakeven in December 2018!
  • Stocked in over 6,500 stores worldwide!
  • Recently launched two new products, with patents pending!
  • ASDA launch planned for March 2019 alongside Nationwide TV Advert!

Idea

GripIt is the Worlds Strongest 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 6,500 stores across the world in household names such as Home Depot USA, ASDA, B&Q, Screwfix, and Wickes.

In the last year, the company has grown 42% in revenue and we estimate having sold over 18 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 2.5% market share in the 3 years.

Highlights:

- Hit Breakeven EBITDA in December 2018 and Grown revenue from £1.37m in 2017 to £1.95m in 2018 (EBITDA -£1.13m)

- Backed by Dragon, Deborah Meaden

- Made in Britain

- Stocked in over 6,500 stores worldwide

- Exporting to 32 countries worldwide

- 2 recently launched products have patents pending (GripIt Green and GripIt Roll Plug)

- Exclusive Licensing deal on the GripIt MarXman marking tool

We are back, two years since our last Crowdcube raise where we have since set up a fully automated manufacturing plant, developed a strong team, launched three additional products and added an additional 1,500 retailers.

This funding round is to assist working capital and our exciting 2019 marketing plans.

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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.