Meet The Founders: The Cheeky Panda

The Cheeky Panda produces sustainable tissue products made from 100% bamboo. Founders, Chris and Julie funded the idea through rewards-based crowdfunding back in 2016 and have since gone on to raise £2.2m on Seedrs and sell over 20m rolls of toilet paper. We caught up with Co-founder Chris Forbes to find out more about their equity crowdfunding success.
 
What is it that has attracted you to equity crowdfunding?

Equity crowdfunding is great for brand awareness, it allows our consumers to get equity in the business, it attracts new consumers and it delivers great PR. I also find it very fair as no matter how much an investors is investing they’ll receive ordinary shares in the company.

Did you notice any differences between your first equity crowdfunding campaign and your most recent one this year?

When we launched our first equity crowdfunding campaign the brand was not very well known, since then we have grown to over 20 international markets and listed with major retailers. As such, the appetite for shares has grown and when we launched our second campaign back in May it took just 3 days to hit our overfunded stretch target. I find a lot of people like Crowdfunding because of EIS investments and the awareness of EIS funded opportunities has grown as has the willingness for private investors to back companies that resonate with the consumer trends.

You’ve now raised over £2.2m on Seedrs, what do you think has been the key to your success?

Consumer brands tend to do well on crowdfunding platforms. We have a very easy to understand business model where we bulk buy containers of tissue and sell them for a profit. Some business models are hard to understand and not sure how they can ever make a profit but for us consumers can see it on the shelves try it, like it and invest in it.

Do you have any top tips to share with the community?

My top tip is try to get 70% of your money before you launch, money follows money and people need a journey before they invest. Getting larger tickets upfront will also make sure you have priced your equity correctly. A lot of people will need a journey before investing, they will look for crowd momentum, sometimes they don’t invest first time preferring to wait and even sometimes waiting for a future round. The key thing for me is having an authentic brand, an easy to understand business model and a team that are investable.

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