Insole business backed by Usain Bolt sprints towards £750,000 crowdfunding target
2 min read
08 August 2017
Enertor, the insole business backed by Usain Bolt, has launched a Crowdcube campaign for £750,000, which has taken off at pace already.
Enertor has been in operation since 1998, but it was five years ago that the insole business moved onto the next level. Having developed an insole that contained a flexible shock-absorbent material called D30, Enertor subsequently caught the attention, and backing, of Usain Bolt.
The Olympian was impressed with the company’s technology and signed on as a brand ambassador and investor for ten years. In addition to Usain Bolt, Enertor also serves the British Army and Premier League footballers.
Seeking £750,000, the Crowdcube campaign went live on Monday 7 August and at the time of writing has secured 31 per cent of the target at £238,500. Provenance Investment Partners is an existing investor of the business.
You can now buy shares in my insole company Enertor. Find out more here: https://t.co/t0YV5GPxL5
— Usain St. Leo Bolt (@usainbolt) August 7, 2017
Luke Lang, co-founder of Crowdcube said: “We’re thrilled that Enertor, an innovative company with great products and a potentially huge global market, is raising money on our platform.
“Raising money on Crowdcube is now a proven way for start-ups and fast-growth companies to support their expansion and development, while making investment in these companies possible for a wider range of investors than ever before.”
Enertor’s goal is to take the idea of the insole market away from something medical and for the elderly to more of a health and lifestyle offering for active people aged between 25 and 55 who want to avoid injuries. Capital will go towards marketing to spread awareness.
Andy Croxson, co-founder of Enertor, said: “In the last 12 months we’ve doubled revenue to £2m and launched our products in almost 500 stores, while building the brand with the help of Usain Bolt and also developing a grass roots following among active people in our target market.
“The funds we’re raising on Crowdcube will be used to buy stock and for the marketing associated with retail launches. Raising on Crowdcube means the many people who believe in our products can buy a stake in the company and invest in our growth.”