Knoops raises over £1 million in first day of Crowdcube campaign
Knoops, the chocolate drinks specialist, has raised over £1 million since launching a fundraise on the Crowdcube equity crowdfunding platform this week.
After the campaign went live on 18 September with an initial target of £1 million, this sum had already been “comfortably surpassed” by the end of the following day.
The campaign is part of a wider fundraise being undertaken by Knoops, having been granted EIS approval for £5 million. The proceeds will be used to expand the retailer’s footprint both in the UK and overseas. This will include opening a store in City Centre Mirdif in Dubai in October with regional partner NDS Group.
William Gordon-Harris, chief executive of Knoops, said: “I am delighted that we’ve exceeded over £1 million of investment within the first day of our Crowdcube campaign – the fastest food and drink company raise in 2024. It shows the value of Knoops in the eyes of our consumers and that this important group share the belief that we can become a global super brand.”
When announcing the upcoming Crowdcube campaign earlier this week, Knoops confirmed that its revenue had increased by 110% to £9.3 million, or by 29% on a like-for-like basis, in the year to March 2024.
