Case study: A catch up with Gibie, post their successful crowdfunding campaign on CrowdCubeMar 04, 2021
There is an immediate need to curb the ongoing devastation the textile industry has on the planet. GIBIE aims to disrupt this industry using plant-based dyes inspired by 5000-year-old Ayurvedic processes. Their products are kind to our skin & the environment by avoiding the use of harmful chemicals.
In January 2021, they launched their crowdfunding campaign hoping to secure their minimum target of £50k, and in a matter of weeks, almost tripled it! We caught up with Hitesh and Himanshu, to ask them why they chose to crowdfund, and how they found the process.
1. Why crowdfunding, rather than other methods of raising funds?
Crowdfunding provided us with an opportunity to showcase our company to a larger number of potential investors than we felt we could find in conventional forms of raising capital. Our investors are likely to become brand ambassadors, a group of people dedicated to making Gibie successful. We can rely on our crowd of investors for feedback, comments and ideas, which we will find really helpful!
2. What made you decide to use a support partner to help you prepare your campaign?
It is always beneficial to have an expert on your side to handhold you. ISQ Crowdfunding helped us in managing the entire process very smoothly and efficiently from end to end.
3. Why did you choose ISQ Crowdfunding?
ISQ is certainly a known name in this space and has a proven track record of successful campaigns. Also, in terms of their actual clientele - we received strong positive references about them which helped us decide to go ahead.
4. What were the key challenges you encountered whilst crowdfunding and how did ISQ support you in meeting those?
It took us a lot of time to secure lead investment in advance and then to navigate the tricky compliance process with the platform, but the team at ISQ were hand holding us throughout the entire campaign. They very intelligently helped us pre-plan for various events and conversations so we could handle them more efficiently. Their regular support helped us maintain our momentum while we were preparing for our campaign. They also played an instrumental part in reviewing and editing our documentation, ensuring it was fit for purpose, and ultimately more effective when put in front of potential investors.
5. What do you believe to be ISQ’s three key areas of strength?
1) Expertise. 2) Project management. 3) Content.
We would definitely recommend them to other businesses - they're reliable and proficient. Plus, we had a successful campaign and may even use crowdfunding as a way of raising funds in the future!
6. What did you learn from this experience?
Be authentic. Be sincere. Be transparent. And, don't avoid taking the extra time to prepare yourself for when you’re actually live on the platform.