Online handmade biscuit retailer Biscuiteers has exceeded its initial £550,000 funding target on equity crowdfunding platform Crowdcube by almost £50k.
The company was seeking funds as part of its plan to rapidly grow the business. As well as achieving its funding target, it received a triple gold rating from Crowdrating, which uses an objective checklist, driven by an analytical process, that rates all new campaigns on leading equity crowdfunding platforms.
Biscuiteers said: “We are delighted to say that Crowdrating.co.uk, the independent crowdfunding rating business, has just awarded Biscuiteers with a triple gold rating. This is their top rating and we are currently the only live campaign to achieve this status.”
The company launched its crowdfunding campaign with Crowdcube at the start of October and will now use the money to invest in international expansion, manufacturing improvements and marketing.
Launched in 2007, the company has been profitable every year since incorporation and is currently turning over £3m. It claims to have been the first online retailer in the UK to offer collections of luxurious hand-iced biscuits to send as gifts.
Biscuiteers has two biscuit icing cafés in London and Battersea, and operates out of two industrial bakeries located in south London.
The company makes a selection of products, including chocolates, cakes and wedding treats, which are stocked at retailers such as John Lewis, Selfridges and Fortnum & Mason.