A leading watersports brand
Mobeus VCT Fundraising
Tushingham Sails owns the world-leading inflatable Stand Up Paddleboarding (SUP) brand Red Paddle Co. Red Paddle is the world’s only dedicated inflatable SUP brand, sold in 60 countries.
We provided £4 million as a combined debt and equity package to allow the business to maintain its leading position in an attractive and growing niche in the watersports sector.
The global SUP market is in a significant growth phase. The funding will allow the business to invest in working capital to fund further international growth.
“This is fantastic news for TSL. Most of these action sports – whether mountain biking, snowboarding or kitesurfing – experience 15 years of fast, sustained growth from the point they are introduced to a market. Many of the European markets are just starting on their rapid growth and it is for this reason we know we have to quickly invest and implement the changes that will keep us at the forefront of product development, manufacturing and distribution. In Mobeus we have found a hugely supportive investor. They understand our business and are committed to the future development of the Red Paddle Co brand.”
TSL, CEO and Founder