Enertor, the specialist insole company endorsed by Usain Bolt is looking to raise £750,000 on Crowdcube.
Enertor, the specialist insole company endorsed by Usain Bolt is looking to raise £750,000 on Crowdcube.
Valued at £10m, Enertor is selling a 7 per cent stake on the world’s largest crowdfunding platform. A 21 per cent stake is currently held by Provenance Investment Partners with backing from Paul Walsh, former CEO of Diageo and Greg Dyke, former Director-General of the BBC.
Enertor has seen considerable growth in recent months. Co-founder Andy Croxson said “in the last 12 months we’ve doubled revenue to £2m and launched our products in almost 500 stores.”
“The funds we’re raising on Crowdcube will be used to buy stock and for the marketing associated with retail launches.”
Designed to reduce shock and impact injury, Enertor have signed a 10-year deal with Usain Bolt to become a global ambassador. The brand also supplies the British Armed Forces and the NHS.
They are aiming to transform the market from its current medical focus and elderly demographic to a health and lifestyle proposition with a younger, more active profile.
Crowdfunding’s profile continues to be boosted by celebrity endorsement including tennis stars Andy Murray and Venus Williams. Murray acts as a strategic partner to crowdfunding platform Seedrs as well as personally investing in Revolut and WeSwap, the peer-to-peer currency exchange platform. In 2016 Williams joined a $9m funding round for Ellevest, a robo-advisory platform targeted specifically at women.
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