New Zealand business, Bushbuck raise with Equitise to fuel them conquering the Australian market.
Overview
Bushbuck’s strong community following prevailed when their equity crowdfund went live at the end of 2022. Their large database and strong community backing saw them close their round with over $1,000,000 NZD raised!
The funds raised have allowed Bushbuck to prepare for their international expansion with the aim of conquering the Australian market.
Who is Bushbuck?
Bushbuck are a leading New Zealand hunting and outdoors brand. They are a disruptive force in the industry with a growing reputation for developing new-and-improved products using leading-edge materials, technologies and design systems.
Beyond Bushbuck’s unwavering commitment to quality and performance, their mission is to push the limits of innovation and sustainability and make the journey into the outdoors more accessible, enjoyable and safe for all.
Why we liked Bushbuck
Consistent, profitable growth
Since 2019 Bushbuck grew their revenue over 300%, with revenue of $4.7m achieved in FY22. Bushbuck have always been focused on building a profitable and sustainable business, achieving $450k in EBITDA in FY22 and forecasted to grow revenue to $5.5m in FY23 and $16.3m in FY25.
Diversified product range built on innovation
Bushbuck’s products span hunting, hiking, camping, diving, spearfishing and off-roading. Their world-class product team, in-house engineering, and D2C business model have enabled them to be more agile, adaptable and responsive to customers’ needs and scale their product range quickly.
Strong brand and loyal community
Bushbuck have built an incredibly strong community around the Bushbuck brand. At the time of their raise, their database had grown to over 63k with a social media following of over 83k! More importantly, the Bushbuck customers love their products, with 7k+ customer reviews and an average rating of 4.7/5.
Key Takeaways
Strong Community Following
The loyal community Bushbuck built for themselves paid off when they let their database know they were taking part in an equity crowdfund raise. Bushbuck managed to reach 1,000 EOI’s in near record time and would eventually see the people who expressed their interest exceed 2,000!
Equity crowdfunding is a unique form of funding in that it enables brands to leverage these communities when raising capital. Transitioning customers to shareholders is incredibly powerful. Beyond business fundamentals and the strength of an investment opportunity, we also look for companies that have built a passionate and engaged community of stakeholders around the company.