Front Up’s pitch on crowd funding site Crowdcube, experienced a groundswell of demand with 63 investors helping the business raise £100,000. As a result, Front Up Rugby opened a second pitch to cater for everyone wanting to invest in the brand raising a further £23,000 from 7 investors. The company has raised a total of £123,000 from 70 investors.
Jon Allen, Managing Director of Front Up Rugby commented “We’re absolutely delighted that our pitch was so well received. We now have a strong team of investors as well as brand advocates who can really help drive the brand forward. With the upsurge in the popularity of rugby, the growth of online shopping and proven traction, Front Up is well placed for rapid growth ahead of the British Lions Tour in 2013 and the 2015 Rugby World Cup in England.”
Luke Lang, co-founder of Crowdcube said, “It’s always good to see another business finding a way to grow or start using Crowdcube, particularly when traditional routes to finance are so limited. We’re delighted for Front Up Rugby and look forward to seeing them use the finance to grow. Access to growth finance remains a serious issue despite numerous Government incentives and schemes to get banks lending more. There are thousands of small businesses like Front Up Rugby that need funds to grow. Equity crowdfunding is a serious solution to the problem.”
Front Up is one of the UK’s leading and most exciting rugby brands and has ambitious plans for growth – with sales forecast to top £1 million over the next few years.
One customer aptly described Front Up: “It’s cool après rugby clothing – the Superdry of sports”. The brand is backed by a growing army of professional and grassroots players.
The business has won accounts with The Middlesex Charity Sevens and launched its first concession with Debenhams in Gloucester. Front Up is due to launch nationally on Debenhams’ website early in 2013 and is currently in discussions with a number of other major UK retailers.
The investment will be used to evolve Front Up’s web platform www.frontup.co.uk , drive new wholesale accounts and to expand the brand’s product range. Front Up’s focus on social media, player affiliations and third party partnerships will continue as key elements of their growth strategy.
