Fancy Dress Worldwide, a Worcester-based fancy dress e-retailer, has smashed its £200,00 crowdfunding investment target, in a scheme devised to fund its expansion plans.
The multi-platform e-commerce fancy dress company sells costumes, accessories and party decorations in eight countries on Amazon and eBay. It also works with online partners such as Top Cashback and Quidco, which both work as affiliates.
The company raised £271,000 through investment site Seedrs in just 27 days, with over 150 investors buying shares in the company.
Managing director Dom Portman plans to use the capital to increase Fancy Dress Worldwide’s product range and online presence over the next two years, focusing on Amazon Prime integration and an export strategy for the USA.
Adam Bellamy, current cfo of PureGym, is one of the firm’s new investors and will take up a non-executive director position starting in October 2018.
“The Fancy Dress Worldwide team and I are extremely excited to have smashed the crowdfunding target well before the closing date,” said Dom. “One of the key goals of this funding round was to gain experience within the company as we grow.”
He continued, “After some careful thought, we felt that appointing an experienced CFO as a non-executive director would be beneficial and Adam fits the bill perfectly. It’s an extremely exciting time for the company, particularly with Halloween around the corner, and I encourage anyone wanting to invest to do so soon.”
Fancy Dress Worldwide first launched in March 2016 and growth has been rapid – it has shipped to over 380,000 customers in 85 countries in the last two years. Seedrs has valued the company at £2m.
