Troubadour Goods, a London-based menswear brand that specializes in designing and creating handcrafted leather goods, has completed its latest equity crowdfunding campaign on Seedrs. The round raised a total of £436,763 in funding. The company offered 9.56% in equity at a £3,891,727 pre-money valuation.
As previously reported, Troubadour Goods seeks to design, create and sell premium men’s accessories and believes its products combine performance design with clean, modern aesthetics, and craftsmanship, to create pieces that will last for decades.
“Troubadour was born out of a desire for a men’s overnight bag that was appropriate for the office, but not so formal as to be out of place in a more casual setting. Performance is at the heart of our design process, with the team thoughtfully tailoring each piece to meet the lifestyle needs of the Troubadour shopper.”
Troubadour Goods also noted that its direct sales business represents over 40% of its business. Direct sales are typically grown through press coverage and social media, and a loyal base of returning customers. In regards to what the funds from the Seedrs round will be used for, Troubadour Goods added:
“We anticipate that approximately half of the funds raised in the current round will be used to support sales growth to our customers and retail partners. The other half will be used to fund working capital requirements from our forecast growth plan. This working capital is primarily allocated to additional inventory and expected accounts receivables growth, as many of our retail partners receive payment terms.”
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