It’s no secret that women face more challenges in the start-up space than men. Last year, female entrepreneurs only secured 1% of venture capital investment, despite the fact that women-led businesses generate higher profits than those led by men, according to research from the European Investment Bank.
Women-owned businesses also generate more gross sales and have been found to fail less than male-led businesses,
Ethical skincare brand Faace has therefore set to launch its first Seedrs crowdfunding campaign to help tackle investing inequality and to support global expansion plans.
"Crowdfunding doesn't just help address investing inequity; it also helps even the odds for female founders,” Jasmine Wicks-Stephens, Faace founder says. “Female entrepreneurs are typically less likely than men to get investment for their ventures, however female-led campaigns on crowdfunding platforms were found to be 32% more successful at reaching their funding target than male-led campaigns.”
The investment journey of a female-founder
In 2020, Jasmine was in need of easy, fuss-free and ethical beauty products that would make her life easier as a new mum. Soon after, Faace was born. Now, two years, Face is a multi-award-winning beauty brand, available in 23 countries and 59 retailers.
Faace has been predominantly self-funded, with just £150,000 investment awarded from SFC Capital x The Red Tree beauty accelerator – part of an accelerated growth partnership.
Jasmine shares: “We've been inspired by fellow female-led brands in the ethical beauty and fem-care spaces like DAME and Upcircle who have experienced great success with overfunded crowdfunding campaigns and so we are excited to now invite everyone to share in our future successes as well, with investments starting from just £11.”
Jasmine and the Faace team are now looking to raise another £150,000 through the crowdfunding platform Seedrs. Jasmine expresses that she is “really excited” to build a bigger team and to continue to grow the brand.
Next year, Faace will be introducing new products and launching in new retailers and countries.
Supporting charities and female-focused causes is also a passion for Jasmine. Through Faace, she looks to open up conversations and destigmatise topics such as menopause and menstruation. To do so, she supports Hey Girls and The Menopause Charity.
Three tips for female founders
Jasmine shares her top three tips to encourage other women to fund their own businesses:
Network with other founders
Build a network of founders and consider them your teammates rather than rivals – even those you're in direct competition with. Share your experiences and help people out when you can – you'll discover that as founders you go through similar challenges, and it can be invaluable to get advice and support from one another – remember there is room for everyone!
Be opened minded
It's easy to underestimate how much a product or business launch will cost. So, while you might have some money saved, look into other ways to help get your business off the ground. The Angel Investment Network and Seedrs are great places to start.
You need to have a really good handle on your finances when it's time to look for investors. You don't want to start desperately pitching for funding because you've run out of money. Try to be strategic and keep assessing where you are compared to where you want to be. This will show investors you’re following a well-thought-out expansion strategy.