Berkeley, Calif. (July 25, 2016) - SlingFin, a manufacturer of premium quality backcountry and expedition tents, met their initial goal of raising $50,000 in early July and is now well underway to reaching their next goal of $100,000. SlingFin, founded by and backed by outdoor industry veterans from several prominent outdoor brands, will be attending Outdoor Retailer, the largest US outdoor trade show, August 3-6 to seek further investment from within the outdoor industry.
On May 16, 2016, the new JOBS Act III went into effect allowing for non-accredited individuals (those whose net-worth is less that $1M) to invest, as little as $100, in start up businesses. “Until now, there has not been a way for the average person in the industry to invest in the brands and technologies with recognized potential,” said Kenji Haroutunian, a SlingFin Investor and 30-year outdoor industry veteran. “Democratizing investing is what our industry needs to spawn innovation and level the playing field so that stakeholders at every level can invest in projects they believe in.”
Also in May 2016, SlingFin partnered with Wefunder an innovative investment platform, which worked to write and pass through congress Title III of the JOBS Act. Before the new law was enacted, only ‘rich’ or accredited investors and venture capitalists could invest in companies needing capital. Wefunder, via the new Title III of the JOBS Act, seeks to democratize investing and the end the roadblock to innovation and progress in America. Think Kickstarter, but investors can actually own equity in a company for as little as $100. Wefunder representatives will also be at Outdoor Retailer seeking support for their innovative platform and to support the outdoor companies that are using their services, including SlingFin and MyTrail.
“We’d like to share our success with our friends in our industry who have spent their careers enhancing outdoor recreation,” says Martin Zemitis, Slingfin CEO and Lead Equipment Designer. “If you share our vision and you’d like to get in on building an outdoor brand from the ground up, then join us!” invites Zemitis.
Funds raised in the SlingFin Wefunder campaign will be used to boost SlingFin’s factory order sizes and take advantage of volume pricing. The increase in volume will allow the brand to expand their dealer network and solve the repeated challenge of running out of inventory and losing out on sales. In addition, the brand plans to grow marketing efforts and increase their product offerings.
At Outdoor Retailer, SlingFin will be located in Tent City Space #14. Tent City is just outside of Abravanel Hall (corner of S Temple and W Temple).
Martin Zemitis, CEO and Equipment Designer.
Richard Ying, COO
Dylan Enright, Director of Operations
Started in 2010, SlingFin is an outdoor equipment company made of industry veterans who have a passion for making only the highest quality gear based on a lifetime of design, manufacturing and user experience. SlingFin makes the strongest tents for the weight in the world – hands down. Customers are backpackers, mountaineers, adventurers, explorers, guides and outfitters all of whom are serious about their adventures and their gear. www.SlingFin.com
Wefunder helps anyone invest as little as $100 in startups they care about. We’ve democratized investing so small companies can raise money from their best fans and customers directly online. “Kickstarter for investing" is finally legal on May 16th, 2016. Starting then, anyone can invest in the next Uber or local coffee shop... not just the rich. We’ve been preparing for this day since 2012, when we helped pass the JOBS Act that made this all possible, and were invited by Congress to watch it signed into law in the Rose Garden. Let’s break the monopoly of the rich and recreate a world where friends and local communities can invest in their neighbors. Let’s help build more businesses and save the American dream. www.WeFunder.com