Luxury cat furniture business, Catipilla, has raised £196,702 from 295 CrowdCube investors through its latest fundraising effort, 196% of the original crowdfunding target.
The “vote of confidence” from investors will support new product development and further accelerate sales, according to the group, which is known for producing high-quality climbers, high plates, hammocks, teepees and scratchers.
It will also help the fast growth scale-up to extend its reach through new UK and international distribution channels.
Building on the success of the CrowdCube raise, the group is now in conversation with other pet retailers in the US, France and UK. Distribution partners are also reportedly “lining up” across Europe and the US to do business with the group.
Catipilla founder and CEO, Andy Sutton said: “The business is a fast-moving train and we are so excited to have 295 new investors jumping on board at this transformational time. I’d like to thank them, and all of our loyal customers, for their support.
“We’ve been busy here at Catipilla HQ. January was our best month to date by a remarkable 60%. And in response to customer suggestions, we’ve also kicked off development for some new products. Watch this space for details of the Catipilla CatWalk coming later in 2021.”