SlingFin Meets 100K Goal and Offers Outdoor Industry Insiders One Last Investment Opportunity
December 8, 2016
SlingFin’s Investment Campaign to Close December 19, 2016
Berkeley, Calif. – SlingFin, a manufacturer of premium quality backcountry and expedition tents, has met its initial goal of raising $100,000 through its partnership with Wefunder, an innovative investment platform, which allows non-accredited individuals (those whose net-worth is less that $1M) to invest as little as $100. The Wefunder platform is based on the recently passed Title III of the JOBS Act. Thrilled with the overwhelming success of the campaign so far, SlingFin has set a final stretch goal of raising a total of $150,000 before closing the six-month funding round on December 19, 2016.
“There are many reasons to invest in SlingFin,” says Al Tabor, a SlingFin investor who has spent his career in the Outdoor Industry. “We’ve seen gear nerds, mini-moguls and patrons investing in SlingFin, but I’d like to suggest another reason for Outdoor Industry insiders to invest…Typically the folks that created value have not generally been the folks that harvested that value. Very few of successful outdoor brands over the past 50 years are still owned by the founders. Using Wefunder, SlingFin is inviting anyone in the Outdoor Industry to own a piece of the brand and reap the benefits down the road along with SlingFin employees,” Tabor continues.
Tabor and SlingFin President and founder Martin Zemitis know the industry. They were among a group of eight co-founders and an investor who started Mountain Hardwear in 1993. The founding group sold Mountain Hardwear to Columbia Sportswear in 2003, with the investor making the majority of the profit.
SlingFin will put the funds raised to work immediately to increase factory order sizes and take advantage of volume pricing. This inventory boost will allow the brand to expand their dealer network and solve the repeated challenge of running out of inventory and losing out on sales. In addition, the brand plans to grow marketing efforts beyond customer word-of-mouth and add the Honey Badger, a patented hard-shell backpack design to their product offerings.
“SlingFin has plenty of orders for tents, but we’ve needed financing to buy the raw goods and factory space to manufacture them,” says Zemitis. “We’re there now with the $100K we’ve raised so far, but another $50K, will get us even further and we won’t have to do another round of fundraising in the near future and I can get back to designing equipment. It’s what I do best.”
Learn more about the how to invest in SlingFin on Wefunder. And for further incentive, all investors qualify for a gear discount, just in time for the Holiday gift-giving season.
Started in 2010, SlingFin is an outdoor equipment company made of industry veterans who have a passion for making only the highest quality gear based on a lifetime of design, manufacturing and user experience. SlingFin makes the strongest tents for the weight in the world – hands down. Customers are backpackers, mountaineers, adventurers, explorers, guides and outfitters all of whom are serious about their adventures and their gear. www.SlingFin.com
Wefunder helps anyone invest as little as $100 in startups they care about. We’ve democratized investing so small companies can raise money from their best fans and customers directly online. “Kickstarter for investing” is finally legal on May 16th, 2016. Starting then, anyone can invest in the next Uber or local coffee shop… not just the rich. We’ve been preparing for this day since 2012, when we helped pass the JOBS Act that made this all possible, and were invited by Congress to watch it signed into law in the Rose Garden. Let’s break the monopoly of the rich and recreate a world where friends and local communities can invest in their neighbors. Let’s help build more businesses and save the American dream. www.Wefunder.com