Eco-friendly toilet paper company, Who Gives A Crap, has raised $41.5 million in capital to fund expansion and provide sustainable sanitation solutions to 2 billion people.
Who Gives A Crap is selling in around 40 countries, providing sustainable sanitation products, such as toilet papers, tissues, paper towels and cloths, and carbon-neutral shipping to reduce environmental impact.
The latest investment round was led by Verlinvest, the family-owned investment group behind Oatly and Tony’s Chocolonely. Other investors include Grok Ventures, Craftory, JamJar Investments, Airtree Ventures and Giant Leap.
Founded by Simon Griffiths, Who Gives A Crap contributes 50 per cent of all profits to funding sanitation solutions, and has already donated more than $10 million to impact partners around the globe that work with local communities. However, according to the company, there’s still billions of dollars required to fund its mission.
The company said the funds raised will be used to enter new countries, upscale its sustainability initiatives and “unlock new ways of scaling the business” to accelerate its mission.
“Who Gives A Crap’s ethos and model is exactly what excites us about building a more sustainable business ecosystem,” said Ben Black, director of Verlinvest. “Simon and his team have developed a profitable, consumer-centric business model enabling growth at scale, intrinsic to which is driving a mission to give everyone access to clean water and sanitation – whilst leading the shift away from deforesting virgin paper products.”