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For the primary time in its nine-year historical past, Australian B Corp Who Gives A Crap has sought fairness capital and has managed to lift a whopping AU$41.5 million to speed up its mission to assist two billion folks world wide entry secure water and clear bathrooms.
“Our firm’s objective is to make sure everybody has entry to scrub water and a rest room in our lifetime,” writes CEO and co-founder Simon Griffiths in an open letter. “We donate 50% of our earnings to unimaginable non-profit companions to make it occur. But to succeed in our aim, we have to speed up our development and take our affect to the following stage.”
The social enterprise donates half of its earnings from the sale of its plastic-free rest room paper in the direction of its mission, and so far, has donated over $10 million to affect companions throughout the globe that work with communities to develop sustainable sanitation options.
Self-funded and bootstrapped because the enterprise launched in 2012 – on the again of a profitable Indiegogo crowdfunding marketing campaign – Who Gives A Crap’s co-founders Griffiths together with Jehan Ratnatunga and Danny Alexander, have been selective concerning the traders they’d carry on. Their choice standards was three-fold: traders needed to assist the social mission utterly, needed to be “in it for the long-haul” and needed to carry world-class experience or expertise that the trio might be taught from.
Having constructed a worthwhile mission-led enterprise and a stable socially-conscious model, it’s little surprise the corporate has attracted the backing of Atlassian co-founder and tech billionaire Mike Cannon Brookes through his non-public funding agency Grok Ventures in addition to Verlinvest (a agency that additionally backed fashionable vegan milk model Oatly), Craftory, JamJar Investments, Airtree Ventures, and Giant Leap.
“Who Gives A Crap is a powerful Aussie underdog story,” mentioned Mike Cannon-Brookes on behalf of Grok Ventures.
“Simon and his crew have taken one thing so easy – rest room paper – and turned it into an impactful enterprise, each socially and environmentally. I hope different entrepreneurs are impressed by their story of constructing a worthwhile, quick rising enterprise that’s additionally environmentally sustainable.”
The firm sells in almost 40 nations and has 135 workers throughout seven nations. The capital raised will allow Who Gives A Crap to enter new nations and markets, produce extra merchandise and scale their sustainability initiatives. “All whereas reaching our aim of bathrooms and clear water for everybody sooner than we’d ever thought attainable,” says Griffiths.