The Cheeky Panda is set to become the first crowdfunded business to pursue an IPO
Fast growing, sustainable bamboo hygiene brand, The Cheeky Panda is set to become the first crowdfunded business to pursue an IPO on the London Stock Exchange. Already 120% over its £2m crowdfund target with just five days left to invest, the founders of The Cheeky Panda have laid out plans to float the business in the next 24 months.
Over 1,500 people have already invested over £2.4m via the Seedrs platform in the latest raise, and the certified B-Corp brand expects a final flurry of investment ahead of the raise closing on the 24th July 2021, as fanvestors snap up shares ahead of the company’s upcoming IPO.
The Cheeky Panda has seen phenomenal growth since its inception in 2016, having sold over 12million products including bamboo toilet tissue, baby wipes and natural straws in over 25 markets across Europe, USA, China and the Middle East. The business has increased exponentially in the past three years, growing the business from £100k sales in 2017 to £5.7m in 2020 and it was ranked in the top 10 ‘Ones to Watch’ in the 2020 Sunday Times Fast Track 100.
The company expects to grow its revenue to over £50m a year ahead of listing on the London Stock Exchange in the Growth Category, which could result in a lucrative payday for its investors.
The overall hygiene market is valued at over $200bn and is growing by the day, as more consumers opt for sustainable products. It’s pre-raise valuation of £76.7million looks set to continue to skyrocket, with the brand being one the fastest growing ESG (Environmental, Social and Governance) companies in the UK.
The latest raise comes just two years after a previous successful crowdfund in May 2019 which saw the company smash its £750k target by 211% with a final total of £1.6m. Since April 2017 the brand has received £7m in investment, from a community of 4,000 investors with share value in The Cheeky Panda increasing by over 700% in the past three years.
Founded in January 2016 by entrepreneurs Chris Forbes and Julie Chen, the brand has always had sustainability at its core. The company has been carbon net zero since 2017 and B-Corp certified since 2019 and seeks to educate consumers about how bamboo can offer a more sustainable alternative to tree pulp products.
Bamboo is the fastest growing plant in the world, growing 30 times faster than trees. It also absorbs 35% more carbon than trees, and produces 30% more oxygen than trees, meaning the switching to the low carbon bamboo tissue is a simple yet effective way to lower CO2 emissions.
Chris Forbes, The Cheeky Panda founder commented:
“We truly believe in the power of bamboo to help reduce CO2 emissions and slow down the climate crisis. The switch to bamboo products is so simple, but collectively we can have a huge impact. Our phenomenal growth has demonstrated the consumer appetite to make more sustainable choices in their everyday life.”
Chris continued:
“We’ve been blown away by the support from investors so far, and we want to give more people the opportunity to become part of our community ahead of our upcoming IPO. The world needs green companies and we will be one of the world’s first green companies to come to market. We have a plan, we have a purpose, and we’re inviting more people to join our mission to do good and be good.”
