Men’s skincare company makes Norwegian crowdfunding history
- Men’s skin care company Bad Norwegian raised approximately NOK 1.5m on equity crowdfunding platform Invesdor
- Bad Norwegian is the second ever successful equity crowdfunding campaign in Norway
- Norwegian equity crowdfunding scene is young but growing quickly
Bad Norwegian, a men’s skin care company from Norway’s Gol, closed its funding round with 1,457,850 Norwegian kroner raised, reaching 292% of the campaign’s original target amount. Bad Norwegian is the second ever equity crowdfunding success in Norway.
“Crowdfunding’s biggest benefit for us was the building of a brand ambassador network in our target markets,” says CEO Marius Kristiansen. “Equity crowdfunding with Invesdor was a great way to combine international branding with funding.”
During the funding campaign, Bad Norwegian received investments from Norway, Finland, Sweden, Italy and Germany from 45 individual investors. A significant portion of the raised capital will be used on further expansion into new markets.
With its rugged brand and emphasis on natural ingredients, Bad Norwegian has distribution deals with Douglas and Kicks, the largest beauty retailers in Europe and Scandinavia respectively. During its crowdfunding campaign, Bad Norwegian also finalised a deal with Heinemann, which will bring Bad Norwegian products into tax-free shops around Norway. All Bad Norwegian products are made in Norway.
“It was a pleasure working with Bad Norwegian, we are really pleased with the result” says Peter Moore, Invesdor’s equity director for Norway. “They have gained a loyal customer out of me – the more I got to know them, the more I loved the products. They have the right attitude to business – they will go far!”
The Norwegian equity crowdfunding scene is young, but growing fast. In Norway, facilitating equity crowdfunding requires an investment firm licence. Invesdor, a Finnish company with a pan-European licence, launched its service in Norway in February with the oversubscribed funding campaign of Cloud Solutions AS.
Marius Kristiansen, CEO, Bad Norwegian AS
email@example.com, +47 906 67 858
Mikko Savolainen, Communications manager, Invesdor Ltd.
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Bad Norwegian in brief:
BAD NORWEGIAN, the male skincare and lifestyle brand that endeavours to combine the values often associated with Norway – integrity, honesty, and quality – with a rogue, confident undertone.
Invesdor in brief:
Invesdor operates an online investment platform that connects ambitious European growth companies with investors worldwide. Invesdor has helped raise more than 15 million euros and hosted more than 60 successful equity crowdfunding campaigns.
A financial technology (fintech) company founded in Finland in 2012, Invesdor is the Nordic market leader in equity crowdfunding measured in invested capital and revenue in 2015. Invesdor's clients include private and publicly traded companies from Finland, the UK, Norway and Denmark as well as investors from more than 50 countries. Invesdor has offices in London and Helsinki.