Righteous crowdsources £75,000 through Crowdcube for use in marketing campaign
Natural food company Righteous has crowdsourced £75,000 through Crowdcube to use as it embarks on a major marketing campaign.
The company, founded by ex-Unilever marketer Gem Misa, crowdsourced the money in five weeks, with 82 investors putting up the money in return for a 15% stake in the business.
She aims to use the money for building awareness amongst British consumers with supermarket pricing promotions and a TV advert.
Misa said: “The repayment rates with the banks were too high and I was worried about the control that business angels might take over my company if I went down that route. In contrast, crowdfunding was relatively straightforward on Crowdcube, even the legal and administrative process after the full funding was reached.
“I like crowdfunding because it offers the best of both worlds: I get the finance, but just as importantly, I now have a group of investors who are evangelists for my brand as well. They really believe in our natural approach to food and therefore want to be a part of it.
“With these funds we can develop a big marketing campaign that will make more people aware of Righteous salad dressings and the great benefits and taste we offer.”