The raise marks a momentous point of growth for the company, which says it now reaches close to 5% of tradespeople in the UK. The Seed stage investment round is set to support a directed strategy for national expansion across 2022.
After working on building sites six years ago, founder, Louis Timpany saw first-hand how builders relied on the radio during busy periods to keep energy and morale up, but became dismayed by the monotonous library of music on mainstream media outlets, along with spoken content often featuring unrelatable stories. As a result, since its inception in 2017, Fix Radio has centralised its business model around 2.2 million construction workers in the UK, providing a mixture of authentic trade voices, upbeat music, and content pertinent to the issues that affect the day-to-day life of builders on-site, ranging from the state of mental health in construction to the widespread impacts of tool theft.
Builders, tradespeople, and Fix Radio listeners can now pre-register to invest in the business, taking part in the closed-community raise, and have access to the private launch when the station goes national. From the 1 April, the round will officially open and those that invest will own a share of the company and join an online community with one-off exclusive rewards and events, making this the first time a closed community investment has been instigated for a national radio station in the UK, according to Fix Radio,
The investment raised during the round will be used to support marketing initiatives to power the station’s national expansion and create brand new content for tradespeople to listen to on a daily basis. A range of financial incentives have been provided for participation including:
Louis Timpany, founder of Fix Radio, commented on the launch of the investment round: “We’re allowing tradespeople across the country to buy into Fix Radio. For the first time, we are opening our doors to outside investment whether that is £50, £100, or £5,000, it all matters, and it will all help to build our funding total to take Fix Radio nationwide.
“We have seen unprecedented interest in the early stages of the sign-up stage, with hundreds of tradespeople having pre-registered their interest in our crowdfund. Through our expansion, we will continue to educate the industry on unmissable news stories as we grow to be the authentic voice of builders in the UK.”
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