John Nolan Neylan discusses the implications of the raise and the business development.
Revvies Energy Strips this week announces commencement of a £300k crowdfunding investment, providing a boost to the company in its goal to fund additional marketing, inventory and staff to accelerate their growth onto the British high street and power international expansion.
Launched in 2015 by husband-and-wife, John and Jacqui Nolan Neylan, Revvies Energy Strips was founded out of the desire for an instant energy supplement free of additives. The caffeine strips provide a viable alternative to existing drinks, gels and tablets that typically take 45-60 mins to reach their peak. However, as Revvies dissolves on the tongue, the caffeine is released into the mouth where it is absorbed across the mucosal barrier (walls of the cheeks) providing an almost instant boost. The product is incredibly inclusive too, catering for vegan, gluten free, and keto friendly diets, as well as each strip only accounting for two calories.
Having launched successfully in the UK in 2020, the premium market position places Revvies Energy Strips perfectly to take advantage of the booming global sports nutrition market, which is expected to reach £19.0 billion by 2025. The brand itself has seen incredibly strong performances in what has proven to be a turbulent year and a half for international business, selling over 400,000 packs, with revenue growth forecast to grow over 150% in 2021, following revenue growth of 101% in 2020, and 115% in 2019.
Revvies Energy Strips’ raise is seeking £300k for 8.62%, with a pre money valuation of £3.18m. The funds will be used to help the business scale with approximately: 40% marketing; 30% personnel; and 30% inventory. The offer is EIS Qualifying with Revvies receiving Advanced Assurance, with pre-registration opening on June 28th 2021. This is followed with the pre-live stage opening on Wednesday 14th July, and the public raise opening on Monday 19th July. The raise will close on Wednesday 25th August.
Immediate plans post-investment for the business will see Revvies Energy Strips launch e-commerce activity in the United States and Germany, whilst endeavouring to secure partnerships with leading UK high street retailers.
“Jacqui and I are really excited to be able to offer our customers and supporters the chance to share in our success by purchasing their piece of the company via our crowdfunding campaign with Seedrs. With our award-winning Revvies Energy Strips having sold over 400,000 packs in five countries, and regularly listing in Amazon’s top 10 bestseller list for endurance and energy, we feel now is the right time to put the foot on the accelerator and the funds from this round will allow us to do exactly that.”