Kid’s craft box service toucanBox snags £3.2m BGF backing
Subscription service has said it is now ready to "accelerate" UK and international growth, alongside development of new products
toucanBox, the children’s arts and crafts subscription service, has closed a £3.2m funding round with £2.7m investment coming from the Business Growth Fund (BGF).
Founded in 2012, Startups 100-listed toucanBox delivers themed boxes of arts and crafts activities and materials developed by educational experts for kids aged between three and eight.
Action point: Could a loan help you to start a business? See how we may be able to help here and here
Started by Virginie Charles-Dear, the company claims to have delivered over one million boxes and has been growing at a rate of 20% month-on-month.
The funding will enable the start-up to pursue expansion in the UK and overseas, and will also see it introduce new products to its range.
Charles-Dear commented: “I was sure there would be a market for a tailor made selection of arts and crafts materials and activities that could be delivered straight to the door. That was four years ago and since then we have been amazed by the wonderful feedback from our customers, both the kids and the adults.”
Simon Calver, founding partner at BGF, said of the investment:
“Parents are always looking for creative and inspirational ways to keep their children entertained. [Charles-Dear and her] team have tapped into this market and created a beautiful, fun and educational product that is underpinned by a clear growth plan and an exciting business model that we can help become a global phenomenon.”