Usain Bolt-backed Enertor Insoles raises over £1m via Crowdcube
In the past two years, the insole brand has doubled revenue to £2m, secured Bolt as a brand ambassador, and launched in over 500 stores
Enertor Insoles, an insole brand launched by RSScan Lab Ltd, has raised £1,030,580 via Crowdcube, with eight-time Olympic gold medalist Usain Bolt among the backers.
Originally targeting £750,000 for 9.34% equity, the campaign was backed by 1,025 investors – including shareholder Bolt.
Targeting active consumers aged between 22 and 55, who want to stay pain and injury free, Enertor is aiming to “revolutionise the global foot orthodontic market” – while also shifting from its typically older audience and more medical focus.
Providinng shock absorption to help athletes steer clear of injuries, Enertor claims to have proven its product’s claims and benefits via independent tests and says its proven to heal over 75% of plantar fasciitis sufferers.
In the past two years, the insole brand has doubled revenue to £2m and launched in over 500 stores nationwide.
Gaining coverage in industry magazines such as GQ, Sports Illustrated, Runner’s World, and the Times, Enertor also secured Bolt as a brand ambassador for the next 10 years in 2016.
Heavily influenced by Nike’s famous Air Jordan’ campaign led by Michael Jordan, Enertor hopes securing Bolt as both ambassador and investor will “do for insoles what Nike did with sneakers”.
Interested in crowdfunding your start-up? Learn the basics with this explainer guide from Crowdcube.
Luke Lang, co-founder of Crowdcube said:
“We are delighted to see another successful business on Crowdcube. Our platform provides a market-leading channel between high-growth, pioneering small businesses like Enertor and the funds of a diverse crowd of investors.
“The degree of enthusiasm shown by investors towards Enertor meant that we were more than happy to extend the length of the raise after they reached their funding target”.