Revvies Energy Strips has become the first company in Australia to successfully close an equity crowdfunding campaign on one of the seven platforms granted licenses by ASIC in January 2018.
The company was founded in 2012 by husband and wife team Jacqui and John Nolan-Neylan and successfully raised $306,520 from 275 investors on the OnMarket Crowdfunding platform.
Revvies Energy Strips are a fast dissolving mouth strip that delivers 40mg of caffeine. It is designed to provide athletes, students and busy people with the ability to have a faster, sugar-free, safe and consistent caffeine boost at any time.
As part of their pitch to investors Revvies highlight that they have sold over 100,000 packages of the Revvies Energy Strips and generated $200,000 in revenue. They also supply six national sports teams, twenty professional clubs and Olympic athletes from Australia, New Zealand and the UK.
With an additional $300,000 in the bank the company will focus on broadening its distribution network throughout sports, convenience, petrol and grocery stores. They have also commenced export trials to Singapore and Malaysia and are looking to secure distributors for the product in Japan, China and the Americas.
As part of the new equity crowdfunding framework everyday investors are able to back companies such as Revvies with as little as $50, and up to $10,000. The minimum investment amount for Revvies was set at $250 per investor.