“A crowd-funding round in the middle of Covid-19 pandemic? that is madness!”
This is what we were told in April when we started the financing round intended for Finnish investors. The round was closed on Friday. Were we mad? Maybe, but the round was a success closing in 4,3 million Euros. Now we are equipped and ready to take the next steps and make Paptic a brand everyone in the packaging value chain knows.
Is there a lesson to be learned? Yes, there is. First lesson: the experts are not always right. Second lesson: there are people who can see over the Covid-19 crises and are ready to invest in companies addressing the environmental challenges.
In addition to Covid-19 we had another challenge to address during our financing round – many investors had not held the Paptic material in their hands before. The combination of strength and soft touch is a key factor that differentiates Paptic from other materials. One investor commented that he invested at the opening of the round without having seen and experienced the material, but when he got a Paptic bag in his hands, he invested more.
We are now ready for the next stage of our growth, and we will be open for additional investments from strategic Partners later this year.