Successful Crowdfund Case Study: MANRAGS

Successful Crowdfund Case Study: MANRAGS

Campaign year: 2018

Campaign type: AU – Retail Equity Crowdfunding

Campaign duration: 40 days

Amount invested: $362,250

Investors: 177

Average investment: $2,046.61

% Funded: 120.8%

MANRAGS Holdings Ltd is made up of two brands; MANRAGS and the soon to be launched, MS SOUS. Both brands offer unique, high-quality socks and underwear made using 100% Egyptian cotton through subscription. At the time of MANRAGS’s equity crowdfund on the Equitise platform, it had amassed a 35,000 strong social media following with over 7,000 subscribers, representing an annual growth rate of 109%.

As MANRAGS prepared for the imminent launch of its MS SOUS brand, targeting the women’s essentials market, the company sought capital to fund product development, an increased marketing budget and working capital. MANRAGS co-founder Michael Elias saw equity crowdfunding as the obvious choice to raise the required funds, stating that “Our growth has been driven by our community, hence the decision to bring the community on the journey. They can own a piece of it.”


The MANRAGS equity crowdfund is perhaps the clearest example of how equity crowdfunding provides businesses the capital they need to expand by bringing their customers on board to grow together with the business. Investors within the 25-34 age group, being MANRAGS’s primary customers, invested 58% of all capital raised. This result is another example of how equity crowdfunding is not only a capital raise, but a focused and targeted marketing activity.


The Equitise x MANRAGS offer was featured in SmartCompany and Jumpstart Magazine and social media and email channels were utilised to raise awareness of the offer. Events were held in both Sydney and Melbourne to provide a forum for interested parties to learn more about MANRAGS from co-founder Michael Elias and the equity crowdfunding process from Equitise co-founder Chris Gilbert. Those attending also received their very own pair of MANRAGS socks.


The offer successfully closed after a 40 day campaign period, raising a total of $362,250 from 177 investors. MANRAGS’s new shareholders will not only be able to share in the company’s future growth, but will also enjoy up to 36 months of subscriptions to either MANRAGS or MS SOUS or both. 

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