“PrinCube” Sets New Record for Crowdfunding in Japan Raising Over 300 Million Yen From Over 20,000 Backers
TOKYO 1 April, 2020 – CAMPFIRE, Inc. has announced that “PrinCube,” a crowdfunding project on “CAMPFIRE,” has set a new record for rewards-based crowdfunding services in Japan, raising over 300 million yen from over 20,000 backers(※1). Also, “CAMPFIRE” monthly gross merchandise volume (GMV) has exceeded 1 billion yen in March (270% YoY), which is also a record-high for the Japanese market (※2).
*1,2 According to our research
“Princube” hits record-high backing amount / number of backers
“PrinCube” is a small mobile color printer that can print various designs in full color on any material (paper, cloth, plastic, etc.). After raising approximately 500 million yen in 2019 on US crowdfunding giant Indiegogo, “PrinCube” launched a project with “CAMPFIRE” on 5 February 2020 and succeeded in raising over 300 million yen from 20,000 backers within 2 months, hitting a record-high in the Japanese crowdfunding market.
“PrinCube - The World’s Smallest Mobile Color Printer”
Backing amount: 303,524,542 yen (As of 1 April, 2020)
Backers: 20,307 people (As of 1 April, 2020)
Time period: 5 February, 2020 - 31 March, 2020
“CAMPFIRE” achieves record-breaking monthly GMV exceeding 1 billion yen
“CAMPFIRE” monthly GMV exceeded 1 billion yen (270% YoY) in March 2020, which is also a record-high in the Japanese crowdfunding market.
In particular, the distribution total of the “gadgets / products” category increased significantly by 280% year on year in 1Q 2020. This is the result of providing a strong support system for overseas projects to expand into the Japanese market (e.g. “PrinCube”), marketing opportunities at retail stores such as Shibuya PARCO’s “BOOSTER STUDIO”, flexible advertising operations, etc.
Featured projects in gadgets / products category
BOOSTER STUDIO by CAMPFIRE
Another factor is the increase in use of crowdfunding by businesses as a result of the spread of Covid-19, from various industries such as food and beverages, music, accommodation, etc. The Covid-19 Support Program, launched on February 28, 2020, currently has over 1300 program applications, 300 projects launched, and a distribution amount of over 500 million yen (as of 14 April 2020). These numbers are increasing daily.
Covid-19 Support Program
We will continue to address the various funding / marketing needs of crowdfunding users by enhancing our support system and marketing measures, etc. to further spread the use and awareness of crowdfunding.