Female Founded ‘Riley’ Launches Second Crowdfunding Campaign
by Startacus Admin
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Riley, the innovative Irish startup that offers eco-friendly period products launches new campaign on Seedrs to support further product development and growth of its team.
Riley, an Irish startup disrupting the period care market, has launched its second crowdfunding campaign. Founded by an all female team, Riley has already come a long way since launching from a garage in West Cork two years ago. The business, which was recently shortlisted as a Finalist in the EY Entrepreneur of the Year Emerging Category, now has over 2,300 active subscribers who get their eco-friendly period care delivered to their door, as well as working with over 120 enterprise clients who stock Riley in their bathrooms for free for their staff and customers.
The EIIS qualifying company is raising €1.5m in capital, with a portion being raised on Seedrs crowdfunding platform. The funds will be used to continue growing the team, which is now made up of seven full-time staff, as well as developing more products, and investing in IT infrastructure to help scale efficiently. The crowdfunding campaign on the Seedrs platform has already secured over €715k privately in funds via Riley’s network and customer database. The campaign will potentially go into over-funding should they hit their target.
Crowdfunding is when a company raises funds from a large number of people by giving them the opportunity to own a part of the company, in order to access capital and grow its business. In this case, you can invest as little as €10 for an equity share in Riley. The more you invest the more equity you get. Owning shares in the company means that you'll own a slice of the business, which may increase or decrease in value depending on how Riley performs. If Riley continues to grow and is successful, the value of the shares may rise.
Fiona Parfrey, Riley co-founder said: “We’re back with our second crowdfunding campaign! Our previous Seedrs campaign reached its target very quickly and went into over-funding, which meant a lot of people missed out. So we wanted to give our community another chance to own their part of Riley and come on this journey with us as we work to demystify female health.”
Riley was founded on the belief that people deserve a positive, sustainable solution to their period that also suits their lifestyle. An idea conceived in the throes of the COVID-19 pandemic, Riley’s mission is to ensure their period products do as little damage to our environment as possible by bringing periods into the 21st century. A portion of the company’s revenue is used to fight period poverty, both at home in Ireland and also in Kenya.
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Published on: 2nd May 2023
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