Akardo company completes a crowdfunding campaign and raises over $250k
Polish e-commerce footwear brand Akardo has raised $250,000 within a crowdfunding campaign on the Crowdway.pl platform – this is 100% of its funding goal. Over 550 investors have bought all 111,111 shares company offered, MamStartup writes.
Wadowice-based brand sells footwear created by the handcraft method through its online store. Since 2013 the company has created a portfolio from 600 footwear models for women and men and has received orders for 60,000 pairs of shoes with $2.5 million revenue.
According to the CEO of Akardo Adam Kubarski, about 70% of the attracted capital company will spend on increasing stock level for faster order processing. The Akardo team also began to work on creating a premium men’s footwear brand with a separate online store and children’s footwear collection. For these purposes, the brand is going to expend $50,000 and $12,500 respectively.
The company focuses on international sale. The Czech Republic, Slovakia and Ukraine are the priority markets for the Akardo brand until 2022. Therefore, the remaining amount will be invested in the developing of the design department. In turn, the collection of the new premium men’s footwear brand will have been presented by the end of this year and will be targeted at the EU markets, Kubarski maintains.