Follow us

Herbert Smith Freehills’ private equity and venture capital team has advised Good Goods Holdings t/a Who Gives A Crap on a A$41.5 million Series A investment round led by Verlinvest.

This new capital will be employed to fund the continued rapid growth and expansion of the company, helping accelerate their mission to provide everyone in the world with access to clean water and toilets.

Who Gives A Crap is an Australian “profit-for-purpose” company that manufactures toilet paper and other paper products and donates 50% of its profits to projects that provide clean water, toilets and sanitation products in developing economies. The business was launched in 2012 by Simon Griffiths, Jehan Ratnatunga and Danny Alexander after they learned there are 2.4 billion people in the world (40% of the world’s population) who do not have access to a toilet.

The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne and Co-Head of Venture Capital (Australia) Elizabeth Henderson, supported by a team of lawyers across HSF’s Sydney, Melbourne and Brisbane offices and working with associated tax practice Greenwoods and Herbert Smith Freehills led by partner Toby Eggleston.

Elizabeth Henderson said, “Who Gives A Crap is a phenomenal business that is defining the model for the private sector driving social impact. Many people aren’t aware that something as basic as plumbing is actually critical to economic development. Simon, Jehan and Danny have built an incredible business in its own right and, at the same time, are helping people across the world to live healthy lives and equipping them with the building blocks that will, in turn, facilitate business creation in those communities.”

Who Gives A Crap co-founder and CEO, Simon Griffiths said: “It was a pleasure to work with the Herbert Smith Freehills team as we take this exciting step towards our goal of providing access to clean, safe water and toilets to everyone in the world. We're proud to be working with a select group of like-minded individuals to accelerate our growth and take our impact to the next level.”

This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital transactions. Other recent examples include:

  • Culture Amp on A$135 million Series F capital raise and secondary sale
  • SafetyCulture on its A$99 million Series C2 capital raise and secondary sale
  • Deputy Group on its A$111 million Series B capital raise
  • Linktree on its US $10.7 million Series A and US$45 million Series B capital raises
  • Grok Ventures on its investment in Brighte’s A$100 million Series C capital raise

Key contacts

Peter Dunne photo

Peter Dunne

Co-Head of Venture Capital, Sydney

Peter Dunne
Elizabeth Henderson photo

Elizabeth Henderson

Partner, Co-Head of Venture Capital (Australia), Sydney

Elizabeth Henderson

Media contact

For further information on this article please contact

Emily Coultas

External Communications Manager