Equity For Sea-Lovers Is Back
Our crowdfunding campaign is now live. This is your chance to own a piece of Finisterre.
Finisterre was founded based on a commitment to build durable, sustainable products that inspire a love of the sea.
For two decades, we’ve pushed sustainability within our industry and became one of the first outdoor apparel companies in Europe to achieve B Corp™ status in 2018.
In 2019, we invited our community to invest and join our journey. The response was phenomenal, welcoming nearly 2,000 investors and doubling our initial fundraising target.
Since then, and with this support, we have taken a big step forward, growing profitably and by 2.8x.
And so, for the second time, we’re giving you the chance to invest and become part of our journey, as we pursue an even more exciting opportunity.
Why Invest In Finisterre?
Achievements since 2019 crowd raise:
- Grown quickly and profitably, more than doubling our revenue and exceeding our 2019 growth plan by 60%.
- Strengthened our long-standing reputation for product quality, whilst pioneering sustainability and innovation, maintaining our 4.8/5* customer review score across the entire range.
- Increased our loyal and engaged community of customers by over 200k.
- Continued to push a progressive impact agenda - we’ve recertified our B Corp status, and launched Sea7 our ocean activist programme and the Finisterre Foundation.
“In 2019 we invited our community to become shareholders for the first time. The response was phenomenal. We raised our initial target investment in half an hour, welcoming nearly 2,000 investors to the Finisterre community.’’
- Tom Kay
Ambitions for growth:
- Continue to drive digital growth in the UK and expand internationally
- Selectively extend our UK store footprint to be in more places where our customers are which will continue to drive brand awareness and digital growth in these regions
- Continue to invest in our team, technology and supply chain capability
Own A Part Of Our Future
Our crowdfunding campaign is now live.
FAQ's
Why are we crowdfunding?
We are constantly asked by our community if there is a way that they can be more involved in Finisterre. After such strong performance over the last two years we’ve set our sights on even bigger goals, which in particular will include growing our international business. We believe that crowdfunding is a great way for us to achieve these aims, as well as raise capital and create some buzz around the brand.
What is equity crowdfunding?
Equity crowdfunding is the process whereby people (i.e. the ‘crowd’) invest in an early-stage unlisted company (a company that is not listed on a stock market) in exchange for shares in that company. A shareholder has partial ownership of a company and stands to profit on an Exit Event (i.e. IPO, merger or sale) should the company continue to perform well and increase in value. The opposite is also true, so if the company fails investors can lose some, or all, of their investment.
What is Crowdcube?
Crowdcube is a crowdfunding platform that enables start-ups and scale-ups to issue shares to and raise money from a wide range of everyday and experienced investors who want to share in the future of companies they believe in.
Does pre-registering commit me to investing?
Not at all. Pre-registering means you’ll have the exclusive opportunity to invest first when we open privately, as once we’ve reached our maximum target we’ll close the crowdfunding round.
If you have already registered interest, make sure you’re signed up to Crowdcube before we go live!
When will the campaign go live?
We’ll be going live with our crowdfunding campaign to those that have pre-registered on May 24th. Once you’ve pre-registered your interest, keep an eye on your inbox for the latest launch date information.
How can I find more about the growth plans and ask questions?
There is a full investment deck that will be available once the campaign goes live May 24th. Once the campaign is live there will be a forum for questions on our Crowdcube campaign page where we can discuss the plan and address any questions you may have.
Who can invest?
Anyone over the age of 18 from anywhere in the world. However, due to local laws and regulations, retail investors located in the USA, Canada and Japan will not be able to invest in this crowdfunding. Additionally, due to the current global situation Russian and Belarusian investor won’t be able to invest either.
How much can I invest?
The minimum investment is £10.
Will there be early access for employees and customers?
Yes, those that pre-register who are customers will have first access to invest followed closely by customers who haven’t pre-registered. As we are expecting things to move fast it is important to pre-register to get early access.
What is the valuation of the business?
We are valuing the business at 1.75 times the last 12 months turnover, meaning a valuation of £33.1m. This equates to £2.01 per share. The valuation at the 2019 raise was 92p per share.
I am a previous Crowd investor in Finisterre, what does this mean for my existing shareholding?
As we raise more capital there will be some dilution for all shareholders (there is only one class of share), but at valuation of the current raise, the dilution will be offset by the growth in value.
Can I sell or transfer my shares?
Due to the nature of private companies, the shares you own are inherently illiquid - you'll only be able to sell and realise a return if a liquidity event occurs, such as the business being acquired, a listing on a share exchange or a secondary share sale event. Usually, the investment life cycle for early-stage businesses is 3-10 years. For any queries relating to share ownership please contact support@crowdube.com who will be best placed to advise on the technicalities of possible transfer.
Is the investment EIS eligible?
No
What benefits do I get as a shareholder?
Investing in private companies is a long term capital investment that will help us grow the company. A return on investment is typically made via a liquidity event such as an IPO of the company, or if the company is acquired by another company. You can learn more about investor returns on Crowdcube here. As well as equity, we will also be offering an exciting rewards package dependent on investment levels.
What happens after I invest?
Once the pitch reaches its target and closes to further funding, the completion process starts. At that point, all investors will receive a copy of the Articles of Association via email and will be informed of the cooling off period. Once the cooling off period, which is generally no less than seven days, has expired, the payment collections process starts and then electronic share certificates are issued.
What exit prospects are there for investors?
We are laser-focused on our growth plans which we believe to drive value creation for our shareholders. While exit is not an event we are contemplating today, we are aware of the investment horizon of our shareholders and will consider such options when the business is ready for it.
Are you EIS eligible?
No, we are not EIS eligible. We have put together a great rewards package to make up for this.
Investments of this nature carry risks to your capital and should be entered into as part of a diversified portfolio. This page has been approved as a financial promotion by Crowdcube Capital Ltd who is authorised and regulated by the Financial Conduct Authority (No 650205).