100% Ultra Sustainable, Low Carbon, Bamboo Tissue Products.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.cheekypanda.com |
| Sectors | Home & Personal Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 09936357 |
| Incorporation date | 5 Jan 2016 |
Business highlights
- Founded 5 years ago selling 20m+ products
- £10m annual turnover with 200% YoY growth*
- Sold in major retailers around the world
- B Corp and Carbon Balanced
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Idea
Introduction
The Cheeky Panda is a B Corp which offers a range of sustainable bamboo tissue and hygiene products that are available across Europe, USA, China and the Middle East with some of the worlds top retailers including Waitrose, Boots, MonoPrix and Carrefour.
The Cheeky Panda is a category disruptor as we believe household tissue has seen very little innovation over the past few decades. Consumers seek more authentic and environmentally friendly brands and this is leading to mass adoption of the products with over 5,000 5 star reviews across multiple platforms including Amazon, Waitrose and Ocado.
The overall hygiene market is valued at over $200bn a year and our consumer research shows that we can be more than a 1% brand with more than 51% of people in a consumer survey saying they would swap from Kleenex to The Cheeky Panda.
Substantial accomplishments to date
· April 2016 - The company completed a rewards based crowdfund.
· August 2016 - Toilet tissues launch in market in the natural organic channel and on Amazon.
· 2017 - First International supermarket confirmed: BioPlanet.
· August 2017 - Sales grew to circa £20k monthly*, Seedrs round for £500k at 10% equity.
· December 2017 - Team grew to 5 people and products sold in 5 countries.
· March 2018 - Nominated Amazons choice in the UK for toilet tissue.
· May 2018 - Sales Grew to £50k* a month listed with Ocado, Wholefoods, Planet Organic and As Nature Intended.
· February 2019 - Listings with Boots and WHSmith.
· April 2019 - Sales Grew to £250k* a month.
· December 2019 - Baby wipes ranked highest selling new product launch of 2019 by the Grocer and Nielsen Data.
· January 2020 - Baby Wipes win product of the year 2020.
· June 2020 Total sales for the year £5.1m a 200% increase on previous year
· December 2020 – Sunday Times Fast Track – Ones to Watch
· March 2021 - Listings with Good Eggs and Rite USA
· April 2021 - Won Ocados rising stars best plant based product
· May 2021 - Launched with Waitrose in over 200 stores
· Oct 2021 - LDC top 50 most ambitious business leaders
· Dec 2021 - Annualised sales at £12m (Based on an actual sales performance of £1,001,095 in Dec. 2021*).
*Based on unaudited management accounts.
Monetisation strategy
The company buys and sells bamboo tissue products.
Gross Margins vary depending on product lines. Gross profit is typically circa 40%*.
The Cheeky Panda is profitable per unit, and we are targeting a net profit margin of 20% going forwards.
The company seeks to grow revenue to over £50m a year then list on the London Stock Exchange in the Growth Category.
*Based on unaudited management accounts.
Use of proceeds
Strengthen the management team in the run up to IPO.
Marketing and brand awareness to grow D2C and major retailer launches.
Working capital in the balance sheet to support trade and invoice finance.
Please note that any discounts and/or offer listed by a company in the campaign are subject to the terms and conditions applied by that company. It is the company's responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Advanced Subscription Agreement:
This investment round is being raised by way of a convertible equity investment structure, in this case an "advanced subscription agreement".
The key terms that apply to the Company’s advanced subscription agreement are set out below. See also the attached Key Terms document for further details.
• Discount: conversion at a 20% discount to the valuation set by a Trigger Event.
• Valuation Cap: £150,000,000.
• Conversion is triggered by (“Trigger Events”):
- An Equity Fundraise – defined as the Company raising investment capital of at least £10,000,000 from one transaction or a series of transactions, in exchange for the company issuing shares;
- A Change of Control of the company (transfer of more than 50% of the share capital); or
- An IPO – being a listing of the company’s shares on a recognised stock market or secondary market.
• Longstop Date: 6 months from signing of instrument. (Note: this will be after the campaign closes).
• If conversion has not been triggered by the Longstop Date shares will be issued on the longstop date at the Default Share Price, which is the lower of:
- the lowest price of any shares issued after the date of this Agreement; and
- a price per share of £50 based on a company valuation of £82,694,100 on a fully diluted basis. This was the share price set by the company's last funding round.
• The convertible would also convert to equity at the Default Share Price in the event of winding up or liquidation of the company.
Trade Finance Facilities:
Please note that the company has the following facilities with HSBC:
- A trade finance facility with a limit of £2m. The company is currently utilising £1,031,775.80 of the facility.
- An invoice finance facility with a limit of £3m. The company is currently utilising £1,135,182.35 of the facility.
Group Structure:
Investors in this round are investing into and will become shareholders of The Cheeky Panda Ltd.
The company has the following wholly owned subsidiaries:
1. The Cheeky Panda SARL (France)
2. The Cheeky Panda LLC (US)
3. The Cheeky Panda Co., Ltd (China)
4. The Cheeky Panda (Ireland) Limited
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