PwC Raise | Chāmpo receives funding of $1.2m to accelerate growth
Chāmpo haircare has received funding of $1.2m from angel investors with a track record of backing businesses to IPO, and an investment fund backed by the European Investment Bank.
The London-based contemporary hair care brand offers naturally derived products influenced by the ancient principles of Ayurveda. The products are made without the use of silicone, sulphates or parabens and are vegan and cruelty-free, meeting the increasing demand for plant-derived, clean beauty products. The brand has won numerous accolades and awards including Marie Claire Hair Awards, Indy Best Buy and Women’s Health Beauty Awards. The range is currently stocked in Harrods and available direct at www.champohaircare.com.
Having historically focused on the UK direct to consumer market, Chāmpo will use the funds raised to support channel expansion, international roll out and new product development.
PwC advised Chāmpo on the transaction, and will continue to work with the business for their planned Series A funding. The PwC team advising on the deal was Glen Waters, Richard Abrahams, Edward Reid and Umer Sharif.
Kuldeep Knox, Founder and Chief Executive Officer of Chāmpo, commented:
“The global hair care market is at a really exciting and pivotal point in time. People are willing to pay more for superior products, however they expect different things from their shampoo than they did 5 years ago. They want a product which is intelligent, aesthetically pleasing and uses high quality natural ingredients. The global hair care market is tipped to grow from $75bn in 2020 to $113bn by 2028, driven by a demand for healthier, shinier and stronger hair. Our widening range of products are well positioned to meet this demand. Our thanks to the European Investment Bank and our angel investors for supporting our growth ambitions.”
Steve Brandon, Chāmpo and Funding Circle angel investor, commented:
“Kuldeep has established a thriving brand in a high growth market segment and having enjoyed previous investment success with consumer brands at a similar stage, I knew this was an opportunity not to be missed. I look forward to supporting Kuldeep through the next stage of business growth and beyond.”
James Cheeseman, Ex Board Director at ESPA, advisor to Chāmpo commented:
“It’s been impressive to see the strong, profitable revenue growth at Chāmpo, driven by increasing customer acquisition and high repeat purchase rates, reinforcing the strong proposition the team have created and setting a great foundation for future expansion.”
“We are delighted to have worked with Kuldeep and the team at Chāmpo on securing their pre-Series A funding. The business is on an upward trajectory and we are excited to continue working with the team through their Series A and beyond.”
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