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TRIBE closes funding early after raising £1.7 million - BikeBiz

TRIBE closes funding early after raising £1.7 million

Natural sports nutrition brand TRIBE has closed its Crowdcube fundraising campaign eight days early, after needing only four days to reach its initial £1m goal.
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Natural sports nutrition brand TRIBE has closed its Crowdcube fundraising campaign eight days early, after needing only four days to reach its initial £1m goal.

Following a brief over-funding phase, TRIBE’s fundraising total finished at £1.75M from a total of 1,833 investors, who now hold 24.14 per cent equity in the brand.

TRIBE hosted two participation events for potential investors to meet the brand’s three co-founders. The two events – a London to Oxford 65-mile bike ride on May 13th and a 6k London city run on May 16th – attracted 170 runners and riders. An additional Olympic Special training event with Olympian Perri Shakes-Drayton also attracted a further 50 attendees.

TRIBE co-founder Guy Hacking commented: “Since its inception, our community has been at our core and we’re delighted to have raised £1.75m in partnership with those individuals.

“The support for this fundraiser has been phenomenal; this significant investment can propel TRIBE in 2018 and beyond. Significant increases are planned for our bespoke product service and participation event offering, both of which will directly benefit our investors, customers and future members alike.”

For more information on TRIBE’s Crowdcube campaign, visit the site here.

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