Global leaders in travel wellbeing, 1Above announce capital raise through equity crowdfunding platform Equitise
1Above, the global leaders in travel wellbeing, has today launched a funding campaign through equity crowdfunding platform, Equitise. This equity funding will be used to grow their customer base, increase brand support, and work on innovation projects and further scientific validation.
Having already raised A$1.4m toward the required A$2.8m, the campaign, which is open to the public from 22 August to 9 September, allows everyday New Zealanders & Australians the opportunity to invest alongside investment heavy-hitters Movac and K1W1.
Movac is best known for being an early investor in Trade Me, PowerbyProxi, and Aroa Biosurgery amongst others, whilst K1W1 was started by Warehouse Group founder, Sir Stephen Tindall. Both organisations are known for their shrewd investments in early stage companies and believe that the value proposition of 1Above is strong.
1Above CEO Stephen Smith is confident that this raise will help grow 1Above’s already booming customer base.
“We’ve had a 124% compound annual growth rate in revenue since launch. We’re going to ramp things up even further after this capital raise, taking this Kiwi founded company even more global. We’re delighted to offer allow wholesale and retail investors to share in our journey” says Mr Smith.
The management team of 1Above has over 70 years FMCG experience, with backgrounds at Lion, Fonterra, Deloitte and Wendy’s.
1Above is a flight recovery drink designed to help travellers fight travel fatigue. It is sold online as well as in 250 outlets in New Zealand and throughout the world, including the United States, Australia and Canada. The business earned A$2.26m in revenue last year with forecast revenue for FY19 of A$12.14m.
Movac partner and 1Above Director Mark Vivian says, “1Above has performed well in the Australian and New Zealand markets, and the capital raised will help accelerate our US roll-out. The global beverage market is a very competitive one, but we’ve got confidence in Stephen and his team’s ability to carve out a niche with 1Above’s unique products.”
Smith says, “The funds from this investment round will be used to investing in the category and the brand, support new customers and distribution points, drive shelf presence and increase marketing activity and rate of sale. We also plan to further support our proposition and would like to conduct our own clinical studies to strengthen claims and our positioning in the market. Further, in order to become the leaders in travel well-being we need to think about additions to our range, which this capital injection will allow the company to do.”
Will Mahon-Heap, Equitise co-Founder & New Zealand Manager, believes this is a really exciting opportunity for anyone to invest alongside the experts.
“Movac and K1W1 are professional early stage investors. 1Above’s funding round is an opportunity that most Kiwis don’t usually get. At Equitise we’re thrilled that we get to work alongside 1Above, Movac and K1W1. This is exactly the sort of arrangement that we believe our platform can be used for – it is truly the democratisation of investment.”