Scale up plan
Cheeky Chompers sees crowdfund campaign beat target
Scaling up: Julie Wilson and Amy Livingstone (pic: Terry Murden)
Baby products company Cheeky Chompers has seen its crowdfunding exercise oversubscribed, enabling it to accelerate global growth plans.
The Edinburgh-headquartered company targeted £400,000 through the Crowdcube platform and raised £472,000. The fund-raising campaign has valued Cheeky Chompers at £3 million.
Founders Julie Wilson and Amy Livingstone will continue to focus on scaling the business through product development, direct sales growth and increased brand awareness in key markets.
UK retailer Mamas & Papas was added to its customer base last week, extending the product range to 31 of its stores and website.
Cheeky Chompers has sold more than 1.5 million products to date with the UK, China and the US representing the company’s largest markets.
Ms Wilson said: “The aim now is to capitalise on the multi-billion global market for baby soothers and teethers by scaling the business to the next level. We’re excited to be teaming up with Mamas & Papas, a brand we’ve admired greatly for some time.”
Corporate finance boutique Quest Corporate and corporate advisory firm Full Circle Partners supported Cheeky Chompers on the crowdfunding campaign on Crowdcube.