Who Gives A Crap flushed with $41m raising

Toilet paper brand Who Gives A Crap is flushed with cash after tapping investors including ­Atlassian founder Mike Cannon-Brookes for $41.5m. But donations it makes to build toilets in developing countries have more than halved as online advertising rates soar.

The company has completed its first capital raising, targeting a group of “like-minded” investors who support its “mission” of ­donating 50 per cent of its profits to build toilets and other sanitation projects across the Third World.

It estimates that more than two billion people are in need of adequate sanitation and chief executive and co-founder Simon Griffiths has not ruled out a ­potential IPO to fulfil its mission, saying that, while it has donated more than $10m over eight years, there are “billions to go”.

While demand for its products soared at the onset of Covid-19 last year (so much so it was forced to not accept new orders amid panic buying, sending donations soaring 700 per cent to $5.85m), 12 months on it is a different story.

In the past year, donations more than halved to about...