STOCKHOLM, Sweden: After experiencing the negative environmental impact of plastic waste while performing voluntary work in Jamaica, Dr Noel Abdayem decided to found an environmentally friendly business called The Humble Co. His idea to sell eco-friendly toothbrushes made from bamboo proved to be a success. Now, The Humble Co. is bringing on board a new investor in Verdane to accelerate the company’s expansion in the global market.
“I was not aware of the extent of plastic pollution in world oceans until I saw beaches littered with plastic waste in Jamaica,” said Abdayem, CEO of The Humble Co. “Although I was studying dentistry at the time, I realised I did not know of any oral care products in materials other than plastic. I figured I could not be the only one wanting to reduce plastic waste and the market potential for eco-friendly toothbrushes had to be huge.”
The Humble Co. has grown organically since inception in 2014, reached a turnover of €2.2 million in 2017 and is expected to reach over €6 million in turnover in 2018. The company’s products are sold in more than 20 countries, with the largest markets being Germany, Sweden and Norway. In addition to the bamboo brush, of which more than 6.5 million have been sold to date, The Humble Co. has developed natural toothpaste and natural chewing gum. It is looking to further broaden its product portfolio of eco-friendly personal hygiene products.
This year, The Humble Co. is celebrating its fifth anniversary and the company now wants to increase the pace of expansion, which is why it is bringing in an external investor. When asked about his vision for his company, Abdayem responded, “We see growth opportunities in Europe and North America, as well as in Asian and South American markets where interest for eco-friendly products is great. We are happy to partner with Verdane. In addition to capital, they bring valuable experience from investments in more than 30 consumer companies.”
The Humble Co.’s environmental and social commitment run deep, as a share of revenues is pledged to the non-profit organisation Humble Smile Foundation. By managing oral health outreach projects for people disadvantaged by economic or geopolitical disparity, this foundation seeks to increase awareness of and help prevent suffering caused by oral disease.
“We find Humble Co. to be a very exciting company with its eco-friendly business angle and global mindset. The company offers well-designed products that allow consumers to lower their environmental footprint, something a growing number of people care deeply about,” added Björn Beckman, an investment professional at Verdane.
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