New shaving brand Cornerstone pulls in £900,000 from the crowd
Start-up recently beat Gilette and Wilkinson Sword to win Best Razor at the 2015 Shortlist Grooming Awards
Razor and shaving supply subscription service Cornerstone, featured among the Just Started businesses of 2014, has secured £898,210 in an oversubscribed crowdfunding pitch on Crowdcube.
246 investors backed the campaign in return for share of 14.3% equity, alongside rewards such as gold-plated razor handles and a hot air balloon shave for a £100,000 investment.
Launched in June of last year by young entrepreneur Oliver Bridge, Cornerstone offers a subscription package of German-engineered razors and British skincare products delivered on a six, 12 or 24 week basis and claims to have grown to 5,000 subscribers. It also boasts of beating Gilette and Wilkinson Sword to win the title of Best Razor in the 2015 Shortlist Grooming Awards.
It plans to use the funding, almost £400,000 above its original crowdfunding target, to grow its London-based team, develop its product range, invest further in marketing and move into international markets.