ASB MAGAZINE: Volte wetsuits have partnered with equity investment firm Crowdcube to offer shares in a crowdfunding venture. The company is raising funds to support ambitious growth plans in the $2.4bn surfboard/accessories market. To become a shareholder of Volte you will need to open an account with Crowdcube and place your investment through them. Crowdcube have recently announced the intention to open a secondary marketplace where you can look to sell shares in the future. Citizens of the United States are not able to invest on the Crowdcube platform. The campaign is scheduled to go live on 17 December 2020 and will last for 30 days.
Volte develop quality, eco-conscious wetsuits from its headquarters in Western Australia.
According to the prospectus.
- Surf industry expected to generate revenues of US$9.5b by 2022
- Focused on growing through community-based activity
- Multi-year partnership signed with Surfing Western Australia
- Engaged social reach – 15.8k on Instagram & 293k Vimeo impressions
Since launch, and with a revamped website, operations and sales have expanded from West Coast Australia to West Coast USA, with representation in over 20 countries in between, including breaking into the EU/UK.
“It has been an amazing journey and a privilege to serve with this incredible group of humans! The core grassroots support has driven the company to this exciting point of evolution. Looking forward to the next phase,” said Terry Jones (Non Executive Director and Board Member of Volte Wetsuits) via social media.
Funds will be used to support consolidation and growth plans in the UK and expansion into Japan, Brazil and South Africa in 2021.
More https://www.voltewetsuits.com.au/pages/crowdcube
