This is the Afrocenchix pitch deck to raise a $1.2m seed round in 2021.
About
Afro haircare is a $42B market and it’s growing fast. But the big players don’t understand the customers or their problems. We’ve had those problems, and our customer centric, data driven approach at Afrocenchix has helped us to formulate, manufacture & sell over 65,000 bottles of our safe, effective products so far.
Our award-winning products and featured in top publications such as Vogue, and on the Indy Best lists and have an average 4.7 star review from 1000s of customers. We’re just getting started.
The fundraising journey is fresh in Rachael Twumasi-Corson’s mind.
While raising a seed round for her hair company Afrocenchix, she and her cofounder, Joycelyn Mate, 31, had their beauty expertise questioned and their experiences as Black women belittled. That the Black haircare industry is worth billions was lost on investors, Twumasi-Corson, 31, told Insider.
“We had someone ask ‘Why are you talking about Africa?’ and make jokes about Africans being poor,” she said. “It was a very strange experience.”
That didn’t stop them.
Afrocenchix, which they launched in 2011, is the first Black-owned hair company to be sold in Whole Foods UK, Twumasi-Corson told Insider. In June, the founders closed a $1.2 million seed round backed by Google for Startups’ Black Founders Fund, making them two of 10 Black women in the UK to raise VC funds this past decade.
Funding rounds
|
Announced Date
|
Transaction Name | Number of Investors | Money Raised | Lead Investors |
| Jul 8, 2021 | Seed Round – Afrocenchix | 6 | $1.2M | — |
| Jun 21, 2019 | Pre Seed Round – Afrocenchix | 1 | $650K | — |
| Apr 18, 2019 | Seed Round – Afrocenchix | 1 | $100K |
Backstage Capital
|
Pitch deck review summary
Slide by slide review
Deck Collection
See the rest of the collection here:
Comments (0)
There are no comments yet :(