The Knotty Ones

Goals & Process

The investment will be used to expand the company into new markets, test digital tools and expand the company's social model.

Why did you choose this funding type?

When looking for investors, the company prioritised the expertise of the investors and looked at how they could contribute to the growth of the business. They were looking for potential partners who believed in the working model that the brand was developing.

Successes & Challenges

The Knotty Ones raised 0.5 million EUR from VC Fund and business angles.

What were the keys to success?  

• the sales growth during the pandemic, which jumped 3-fold,
• a professional and strong team,
• a strong focus on e-commerce and exports (95% of the company’s products go outside Lithuania and 90% of sales are made online),
• the exceptional and innovative business model. Not only do women entrepreneurs provide employment opportunities for women in remote areas and small knitting mills, but they also bridge the gap between the consumer of the final product and the person who produced it. Buyers can contribute to the knitter's dream by contributing an extra amount that goes to the worker. According to the company, one in four customers chooses to do so.

Takeaways & Additional Information

Have a strong team, and a very clear vision for the business, that is ethical, sustainable, values-driven and at the same time very global. This set of qualities is always attractive to investors.