A FROME entrepreneur is seeking to raise £400,000 from a crowd funding platform to enable innovative product, the Super Rope Cinch, to be launched throughout Europe.
Steven Daniels says the Super Rope Cinch – which secures ropes without needing to tie knots – will revolutionise the way people use ropes, much like the cable tie, Velcro or zip did in their respective markets.
Steven’s belief in the product is so great he is selling four properties to raise the capital needed to invest into the business. He said, “In order to respond with speed to the huge surge of interest in the Super Rope Cinch and to capitalise on the numerous sales trials going on across Europe, I have to be able to access funding quickly and the quickest way to do this is using crowd funding.
“Selling the properties is taking longer than expected and the traditional finance route isn’t nimble enough to respond to the market’s requirements.”
Using Exeter based peer-to-peer lending site Crowdcube, the request for funding went live at the end of last week. Investors have already pledged funds for a share in the company.
The Super Rope Cinch is a quick and easy way to secure ropes without tying knots. All users need to do is wrap the rope around the items being fastened, take one or both ends of the rope through the device, and then simply twist it to lock. To release, simply press the release button and untwist to completely release the rope.
Steven is prepared to sell 12% equity in exchange for the funds needed to supply European demand. Interest in the Super Rope Cinch was piqued recently when it was displayed at the International Hardware show in Cologne, Germany. Leading retailers including Toolbank, Travis Perkins and Robert Dyas in the UK; Leroy Merlin and Castorama across Europe; and global firms Bunnings and ITW, are now all seriously considering stocking the innovative product, following the show.
Designed and manufactured in the USA, the Super Rope Cinch is already selling successfully through retailers such as Walmart and Home Depot.
If you are interested in investing in the Super Rope Cinch and would like to find out more, visit the pitch live on Crowdcubewww.crowdcube.com/investment/just-right-products-uk-europe-14118.
