Finisterre, the UK-based outdoor clothing apparel retailer, has succeeded in raising £4.6 million from 3,000 investors since launching the second crowdfunding campaign last month.
The clothing retailer has secured 307 per cent over the initial investment target of £ 1.5 million.
The investment will be utilised to drive not only the e-commerce growth, but also expand its reach globally.
The funds will also be, reportedly, used to extend Finisterre’s retail footprint.
Here it is important to state that this is the second time the retailer has started a crowdfunding campaign using investment platform Crowdcube.
Notably, the maiden campaign was launched in late 2019, which had raised its initial target investment of £ 2 million from an estimated 2,000 investors.
Tom Kay, Founder, Finisterre, said that the commitment and willingness of retail investors to support sustainable and genuine businesses was one of the factors that made Finisterre turn to them for financial backing.
Founded in 2003, Finisterre is known for producing technical clothing including merino underwear and base layers, waterproof and insulated jackets.
