Tidy Books set to expand overseas following £105,000 Crowdcube investment
Children’s bookcase company raises 140% of funding goal on platform
Children’s bookcase manufacturer Tidy Books has raised £105,600 from investors on equity crowdfunding platform Crowdcube, set to fund the first international expansion for the business.
Started in 2004 by former violin maker Geraldine Grandidier, Tidy Books manufactures and sells storage and bookcases intended for young children, retailing from £119.
Launched with £500 initial capital, Tidy Books bookcases are now manufactured in bulk and stocked in John Lewis and Mothercare, with more retailers ‘in the pipeline’.
Grandidier herself was the recipient of a US Stevie award for female entrepreneurship in 2013, which recognised her role in growing the business.
Tidy Books overfunded its original Crowdcube target of £75,000 by 140%, raising the capital from 116 investors in exchange for an 11.35% stake.
The investment will be used to expand overseas, initially in the German, French and Scandinavian markets.
It marks Tiny Books’ first foray into equity crowdfunding, having previously obtained loans from Barclays Bank and peer-to-peer loan site Funding Circle.
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Tiny Books founder Geraldine Grandidier said in a statement: “[I chose equity crowdfunding] because it is more democratic and there is a sense of mutual trust, fair valuation and partnership right from the start.
It allows me and my team to focus our energies on creating the best business, and ultimately the investors will benefit.”
Luke Lang, founder of Crowdcube, added: “Tidy Books has not just raised capital by funding on Crowdcube, it has gained a set of avid brand ambassadors with all sorts of business and other experience, who can help Geraldine expand the company into international markets.”