Inside the outdoor industry

Waka Waka makes public offering

Dutch IPO aims to raise €2.5m

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Solar light specialist, WakaWaka has become the first European B Corporation to go public, offering shares via NPEX, the Dutch financing platform for SMEs as it looks to raise €2.5m.

B Corporations are independently certified organisations ´that use business as a force for good’. Other examples are Ben & Jerry´s, Tony´s Chocolonely, Patagonia and Dopper. WakaWaka has one of the highest ´B Corp scores´ in the world and has been listed as ‘Best for the World B Corp’ since 2016.

Approximately 1.2 billion people across the globe do not have access to electricity, primarily using candles and kerosene lamps. “These are not only dangerous, polluting and expensive, but also damaging to people’s health. Light and electricity have a profound impact on people’s lives: on school results, livelihood and prosperity. That’s what motivates us”, said co-founder Maurits Groen.

The company has a business model linked directly to its work as a social enterprise. For every consumer who buys a sustainable, ultra-efficient solar light or power bank, WakaWaka improves access to light and power for at least one person living off grid.

Last year, the company’s revenues increased by nearly 40 per cent compared to 2016. The number of stores in Europe and the United States tripled to more than 600 across both continents in 2017, and the company expects this growth to continue over the next few years. It is WakaWaka’s goal to have impacted the lives of five million people by 2020 and become the leading social brand in sustainable solar solutions.

The company is hoping to raise €2.5m. “An investment in WakaWaka means an investment in the lives of millions of people around the world. We are proud to provide light and power to well over 1.3 million people in off-grid areas already, but we are just getting started”, said Camille van Gestel, co-founder of WakaWaka.

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