Mysource, a London-based B2B platform, has launched an equity crowdfunding campaign on Crowdcube to raise £400,000 to continue expansion.
The company, which was established by Founder of the Ethical Fashion Forum Tamsin Lejeune, helps fashion professionals to do business better, by matching them with the connections and resources they need to succeed. It is currently seeking to become the leading web-based B2B platform for the creative industries by matching entrepreneurs and businesses with the training, intelligence and connections they need to succeed, no matter where they are.
The company stated:
“We will initially focus on fashion and textiles, expanding to incorporate homeware, product design and other related industries. We estimate over 300 million professionals working in these sectors globally.”
Mysource also matches professionals and businesses on the basis of their business needs, as well as the services and products they offer:
“Our goal is that Mysource will become a fundamental tool for all fashion professionals, (and other creative industries in future phases) whether or not they have any interest in sustainability – helping them to build more efficient supply chains, create market-targeted products and services, and grow their sales base. Mysource aims to make doing better business easy, whether you are a brand, retailer, supplier, professional, or entrepreneur.”
Half of the funds from the Crowdcube campaign will go towards developing the front and back-end technology of the platform. The rest of the funds will go to expanding the team and market the platform through external spend. Mysource added:
“If we are able to overfund then we will bring forward the recruitment of our own technology team and increase the spend on Marketing.”
Mysource is offering 15.38% in equity to those who invest in the company. Since its launch, the campaign has raised nearly £60,000. It is set to close at the end of November.
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