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KANKAN

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An at-home circular solution for personal care for those who value wellbeing for people and planet.

105%
 - 
Funded 2 Aug 2022
£350,010 target
£369,570 from 193 investors
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Business overview

Location London, United Kingdom
Social media
Website www.kankan.london/
Sectors Home & Personal Non-Digital Mixed B2B/B2C
Company number 11935001
Incorporation date 12 Jun 2019
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Investment summary

Type Equity
Valuation (pre-money) £1.4M
Equity offered 21.38%
Share price £13.55
Tax relief

EIS

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Business highlights

  • £150k+* in sales, 12.08k trees planted, + 70k+ plastic diverted
  • 3300+ customers buying into our first pilot products
  • Featured in Good Morning ITV, The Guardian, The Times and more
  • Straddling 3 markets (beauty, wellness & subs) worth £3B combined
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Key features

  • Secondary Market
  • Seedrs nominee min. £13.55 +
  • Idea
  • Key Information
  • Investor Perks
  • Team
  • Updates
  • Investors 193
  • Discussion
  • Documents

Idea

Introduction

We are a simple at-home refill and reuse solution for personal care. Our quality, plant based essentials are supportive for our skin health and wellness, but also benefit Mother Earth.

With over 120B pieces of personal care packaging being used every year and 69% of us want to reduce our plastic consumption, there is a real need for solutions that design out waste but also that customers want to use.

We want to offer a simple switch that delivers MORE not less. In quality, convenience and style.

We’ve bootstrapped and launched our MVP (pilot) in late 2019 focusing on D2C to test our concept in the market and garner lots of real life learnings. We have seen a real engagement with our circular and shelf worthy packaging. But the real value has been in seeing how much people love the products within.

Substantial accomplishments to date

• We have had over 50+ press features including the FT, Guardian, Style
Exhibited in the Design Museum and longlisted in the Dezeen Awards for our innovative dispenser

• Mentioned by the Chancellor, Rishi Sunak for our efforts
• We have 3,300 customers to date with an average return rate of 44.78%
• £150,000 in revenue *
• 4.8* star reviews
• Significant wholesale interest from national accounts
• Partnerships with Made.com, The Design Museum, LF Markey, and Glassette.com

* Based on unaudited management accounts.

• Over 12.08k trees planted and 70,000 pieces of plastic saved

• Secured a new partnership with leading product manufacturer, with 10 new products in testing ready to launch to market in Autumn including haircare (our most sought after request) and improved COGs and IP

• Working with partners Moramma to bring to market a new way of dispensing from the can that will have IP protection and will offer a frictionless and modern way to dispense and use KANKAN

Monetisation strategy

The personal care market is huge, estimated at around $150bn+ globally with £3bn in the UK alone, and Clean Beauty is worth a staggering £54.5bn globally. We are aiming for 1% of the market.

Currently the majority of KANKAN sales come from retail customers via our website.

We will sell our personal care essentials via a multi-channel model and our new product range and packaging will allow us to broaden our channel mix.

By 2023 we intend for our sales to be split 1/3 D2C & Subscription, and 2/3 B2B and wholesale. We believe we have the ability to significantly improve our LTV and GPM over the next 36-months through new suppliers.

All revenue is from the UK, with European launch planned in April 2023.

Subscription service launched in April 2022, contributing to 7% of our sales in the first month.

Use of proceeds

Now we’re raising to fuel growth by expanding our range, developing packaging IP, customer acquisition, and new hires that will allow us to broaden our channel mix and scale.

New Product Development: 22%. Range expansion and new packaging.

Assets: 10%. Investment in new equipment to improve efficiencies in production and allow us to centralise our manufacturing.

People: 20%. Key hires in Marketing and Sales.

Customer Acquisition & Marketing: 48%. Key investment across digital marketing, press and influencer activity.

Key Information

Debt

The company has the following outstanding loans:

1. Bounce back loan of £29,000 with a 2.5% interest rate, to be repaid over monthly instalments of £562.90 until January 2027.

2. Non-interest bearing directors loan from Mary McLeod of £30,317.81 to be repaid by March 2025.

3. Non-interest bearing £32,699.39 directors loan from Eliza Flanagan to be repaid by March 2025.

The funds raised from this investment round will not be used to repay these loans.

Direct Investment

A portion of the investment reflected in this campaign was received by the Company in the 6 months prior to the launch of the investment round on Seedrs and the Company has started putting this to use.

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,355,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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