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Successfully funded
Capital at risk
overfunded
GripIt
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.

THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE BY THE COMPANY RAISING FINANCE AS IDENTIFIED ABOVE (THE "COMPANY") IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY AND SUBJECT TO THESE TERMS AND CONDITIONS.  CROWDCUBE CAPITAL LTD IS AUTHORISED BY THE FCA AND CARRIES OUT DUE DILIGENCE ON EACH COMPANY THAT LISTS ON CROWDCUBE AS SET OUT HERE.
 
This investment opportunity is not an offer to the public and is only available to registered members of Crowdcube.com who have qualified and categorised themselves as able to invest.  The investment opportunity is not directed at persons located in the United States, Canada or Japan. Any person resident outside the United Kingdom who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict access.
In particular, unless otherwise determined by the Company and permitted by applicable law and regulation, it is not intended, subject to certain exceptions, that any offering of the securities mentioned in such materials (the "Securities") by the Company would be made, or any documentation be sent in or into, the United States, Canada or Japan.  There will be no public offering of the Securities in the United States.
 
In order to access the pitch you must first become a qualifying member of Crowdcube on the basis of your status as either (i) self-certified ‘high net worth investor’, (ii) certified ‘sophisticated investor’, (iii) self-certified as a ‘sophisticated investor’ or (iv) certified as a ‘restricted investor’, in each case in accordance with the FCA’s Conduct of Business Sourcebook Chapter 4.7.  Potential investors are encouraged to "cross examine" the Company by interactive due diligence and use of the available online forums to bring the "wisdom of the crowd" to bear.  Accessing the pitch also means you agree to Crowdcube’s most recent website terms and conditions and investor terms and conditions, which include Crowdcube's limitation of liability.
 
If you are not permitted to view materials on this webpage or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.  Crowdcube’s or the Issuer’s press announcements and this information page do not constitute an offer to sell securities of the Company.  Further, it does not constitute a recommendation by the Company, Crowdcube or any other party to sell or buy securities in the Company.
 
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