In April 2022, we created a crowdfunding campaign to raise capital. Although being in a good economic position for continuing to crow slowly but surely without adding additional capital, we wanted more muscles to grow faster and show the world that a model based on reducing volumes is better. Our goal was to hit 15 MNOK. After ten days we stopped the campaign at 16 MNOK and were able to kick up our feet.
Big investment companies have been showing more and more interest towards us over the past few years, but we wanted to build on the idea of being owned by our customers. We certain that real change is more achievable with a huge investor group that not only loves the products, but also the philosophy. With this extra capital, we are going to take the leading position within sustainability and clothing over the next few years. See the full campaign page (in Norwegian) here.
WHAT WILL THE CAPITAL BE USED FOR?
We are going to spend the next few years building (even more) expertise in these areas:
- Creating marketing campaigns and communication that sparks attention. We can't change the world hasn't heard of us.
- Building the world's most awesome care and repair program.
- Growing and evolving our Community program.
- Expanding our existing kick ass team.
- Preparing for and testing international scaling.
- Expanding our product range to take up a larger amount of space in our customers smaller wardrobes.
This is only the beginning, and we will most likely be raising capital again in the future. Be sure to take part by reading more and signing up for our interest list here.
As an investor you become an active co-owner (if you want to), joining us on our journey of challenging established truths. Together, we will change both the textile industry and consumption habits, as well as contributing to a more sustainable future. Below are some of the things you receive as an investor at Northern Playground:
- Access to our investor dashboard with key metrics (revenue, repairs, community members, most sold products, environmental impact, etc.)
- Monthly newsletter with important insights
- Influence – your advice is important and we will regularly ask for your feedback on challenges and opportunities
- Possibility to purchase our investor t-shirt with a unique design
- Free courses and events, like investor school and repair courses
- An out of the ordinary general assembly
- Exclusive access to samples
- Frist priority on testing new products
- Free repairs of all your clothes a few times a year (not just NP garments)
WHO ARE OUR INVESTORS TODAY?
Before the crowdfunding campaign, Northern Playground consisted of around 70 investors (partially pictured below). Today there are over 600, and we are very proud that the group around our bonfire has grown so much. After the campaign, we sent a questionnaire to our new investors to get to know them better:
- 39% are female and 61% are male (the average on the Oslo Stock Exchange is 29%)
- Fun fact: the most common female name is Anne (11) and the most common male name is Martin (10)
- The top three industries our investors work in are IT, consulting and healthcare
- The average investment was 27.355 NOK
- 37 people invested 100.000 NOK or more
- Over 93% invested in the company because they believe in our vision
- Our investors favorite NP garment is the t-shirt in organic wool and silk
- Over 60% of our investors want to influence the company by being active owners 💪