Menswear styling service The Chapar has raised £1.3m in capital after launching a crowdfunding campaign.
The etailer, which set a £1m target on crowdfunding platform CrowdCube, plans to invest the capital in online and offline marketing in a bid to attract new members.
The Chapar posted yearly revenue of £2.8m last year. It plans to grow this to £5.4m over the next 12 months.
The £1.3m raised includes a £250,000 investment from a key investor before the campaign launched. The etailer said that some of these funds may have been spent while the pitch was live.
The Chapar, which delivers outfits to suit customers’ personal styles, stocks 60 brands including Ralph Lauren and Calvin Klein. It has signed up 146,500 members to date, and is staffed by 52 employees.