The past two weeks have been nothing short of record-breaking for TFGcrowd. That’s because Laya Cosmetics, which we just announced in this post a mere fifteen days ago, has already completed funding!
Laya Cosmetics is a thriving cosmetics startup based in the UK which came up with a formula for an all-natural, ethically-made shampoo using Nordic Cotton as its active ingredient. They launched their TFGcrowd campaign in hopes of securing additional capital to develop a flanker for their widely successful shampoo: a conditioner made using the same patented process.
In an unprecedented turn of events, the campaign reached its funding goal of 20’000€ over just two weeks, turning in 21’170€ through the support of 40 backers, representing 106% of the original funding goal.
Aleksejs Muhacovs, the owner of Laya Cosmetics, is positively pleased:
I’m absolutely gobsmacked. I knew it was a smaller goal compared to the other campaigns on the platform, but I never expected to hit the funding target so fast.
He expressed that with the rate of equity crowdfunded campaigns, he would have to wait at least a month to see some traction build up around the project. “Last time I was interviewed, I believe I said something like ‘TFGcrowd is the best place for startups to grow.’ It looks like I wasn’t wrong.”
Aleksejs notes that his success with the campaign is also a strong indication of the strength of natural cosmetics at large. An FMI forecast recently noted that the industry would grow by 4.8% this year, and will rise to a market value of US $36 bn by 2019. “I owe this success to people who believe what we do and what we stand for. I have nothing but heartfelt thanks to our backers who wanted to see all-natural, cruelty-free and safe products like ours grow and replace their toxic counterparts on the shelves. Our success here today fills me with the hope that we’ll be able to live in a world where all-natural products like ours will be the norm.”
When asked about whether he was considering a second round of funding on TFGcrowd, he answered, “Yes! A hundred and six percent!”
Emil Kerimov, Founder, and Chairman of TFGcrowd was also much pleased with the results of the campaign. “This is another significant milestone for our company. Granted that our existence as a platform is yet brief – it's barely been a year! – it still blows my mind that we are now in a position where we can have successfully funded projects in a matter of weeks. This is a significant testament that we are, in fact, growing, and growing by leaps and bounds. My most heartfelt congratulations to Aleksejs and everyone from his company, and my deepest thanks for allowing us to share this fantastic success with you.”