Investment round

Findra raising £600,000 for next expansion phase

Alex Feechan: connected to customer base

Findra, the Borders-based clothing company which specialises in outdoor clothing for women, is marking its tenth anniversary with a £600,000 investment round.

The funding will come from existing investors, with the remainder being raised through a crowdfunding exercise via the Crowdcube platform.

It will support expansion of the firm’s in-house e-commerce team and development of its product range.

The company was created in 2014 by fashion designer Alex Feechan who was inspired to create something better than the “shrink it and pink it” approach taken by other outdoor clothing companies which tended to adapt men’s ranges for women.

Ms Feechan is aiming to deliver a fivefold increase in turnover over the next three years, partly by expanding the firm’s global online customer base.

She said: “Building the Findra brand and community is not an overnight task. You can look at brands such as Patagonia which has been around for 50 years and has stuck to its core values of creating clothing responsibly.

“We know that FINDRA’s loyal customer base is deeply connected to our identity as a female-led brand. We understand the importance of representation and empowerment in the outdoor industry. By choosing to crowdfund, we affirm our commitment to our community, knowing they share our vision for inclusivity and innovation.”

Other clothing companies have taken the crowdfunding route to raising finance. Finisterre completed a crowd raise in 2019 and is continuing this process to raise investment and expand on its already engaged community.

More than two-thirds of Findra’s range is produced in the UK, most of which is made using Merino wool which is environmentally-friendly and more durable than other textiles.

One of Ms Feechan’s designs, the Stroma Jacket, was selected for permanent display at the National Museum of Scotland.

Law firm Harper Macleod has advised the company since 2016 on its investment rounds, commercial property matters, trademark applications and intellectual property.

Jo Nisbet, a partner in the entrepreneurial team at Harper Macleod, said: “Alex is a long-term female entrepreneur who has created a brand and a community with huge potential.

“There are some challenges for women entrepreneurs when it comes to raising investment, so a crowdfunding exercise is a natural step due to the community aspect of the business alongside the longstanding support of existing investors.”

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