Spice Girl successful in fundrasing for her new business venture

Emma Bunton has raised hundreds of thousands of pounds for her ethical baby business, in a funding round which attracted offers for double the target amount.

Emma Bunton Picture credit should read: PA Photo/Handout/Jordi Matas.

The Spice Girls singer’s company, Kit & Kin, gained the support of new backers after launching the bid on online platform Angel Investment Network (AIN).

It became the fastest ever raise in AIN’s history, achieving an initial target of £420,000 in a single week.

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Ed Stephens, global head of brokerage at AIN, said it would usually take six weeks to raise a similar amount.

“As a business it has some great fundamentals, but clearly Emma Bunton’s extra spice was a key ingredient,” he said.

Kit & Kin was launched in 2016 by Ms Bunton - otherwise known as Baby Spice - and her business partner Christopher Money, selling eco-friendly nappies, wipes and skincare products through high street retailers and online.

Thanks to strong demand from investors, the company received pledges for funds of more than £1 million through AIN.

However Ms Bunton and Mr Money decided to only accept the £420,000 at this time.

The fresh capital will be used for staff, expansion and increasing stock supply in order to keep up with large orders.

Kit & Kin was promoted through a new section of AIN focused on supporting female founders and investors, which was set up in response to the under-representation of women in the industry.