Frase Skin
Equity Crowdfunding Case Study
July 2026, $1.14m raised
Frasé Skin successfully completed its Crowd-Sourced Funding campaign through OnMarket, raising $1.14 million from 501 investors.
The campaign highlighted the strength of Frasé Skin’s existing brand and customer community within the growing men’s skincare market. Having built a loyal following among Australian tradies and everyday working men, the business was able to leverage that connection to convert customer loyalty into shareholder support, while also attracting a broader group of investors through its Crowd-Sourced Funding raise.
The Crowd-Sourced Funding raise recognised 30% of investors being existing customers of the brand, where a significant proportion came from the founders' home town of Dubbo.
About Frasé Skin
Frasé Skin is an Australian men’s skincare brand founded by brothers Beau and Zac London from their parents’ garage in Dubbo. The brand was created from their own experience of struggling to find skincare products that felt relevant to men like them, identifying a gap for simple, effective products designed specifically for men and their lifestyles.
Built around the idea of skincare “for the average Joe”, the brand has developed a strong community through its authentic founder story and its connection with customers, reflected in its message of being “made by the boys for the boys.”
The business has grown rapidly, reaching more than 40,000 Australian customers and selling over 100,000 products within three years.
By combining an authentic founder story with a clear understanding of its target market, Frasé has established itself as a growing player in the Australian men’s skincare market.
“We knew there was a gap in the market for tradies like us and blue-collar workers, so we set out on a mission to make good skincare, body care for men out there like us."
- Beau London, Co-Founder
About the Raise
Frasé Skin successfully completed its Crowd-Sourced Funding campaign through OnMarket, raising $1.14 million from 501 investors.
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The funds raised are supporting Frasé’s next stage of growth, including expansion into the US market, where the company has already launched its US e-commerce platform and Amazon US store, with further retail opportunities planned.
Capital from the raise is also being used to support increased inventory, new product development and broader brand expansion, including growing the product range from four core SKUs in 2025 to nine SKUs in 2026.
The campaign enabled investors to participate in Frasé’s growth journey as the business scales its Australian foundation into a global men’s skincare brand.
“Bringing our customers on as investors was a natural fit, and it turns the people who already love the product into genuine stakeholders.”
- Mathew Collet, CEO, Frasé Skin
Why did Frasé Choose to Raise via CSF?
Frasé chose Crowd-Sourced Funding because it aligned with the company’s direct-to-consumer model and allowed the business to build its investor community alongside raising capital.
CEO Mathew Collett explained that “using a platform like OnMarket meant we could raise the capital and build real brand awareness at the same time.” He added that “bringing our customers on as investors was a natural fit, and it turns the people who already love the product into genuine stakeholders.”
The CSF structure also allowed Frasé to gain a broad shareholder base while remaining privately owned, with Collett noting it provided “the benefit of a broad, engaged shareholder base without losing the simplicity and control of staying private.”
Media Releases During the Campaign
Most early-stage businesses default to the traditional path, whether VC, angel investors or bank debt, but you took the CSF route. What drew you to raising via CSF?
My background is in finance. I've spent 35 years in financial markets, so I know them well, and I'd raised with OnMarket before with another company, a round that went very successfully.
We had some early investors come on board, and while VC, private equity and family offices all have their place, CSF made the most sense for where we were.
We're a D2C business, so using a platform like OnMarket meant we could raise the capital and build real brand awareness at the same time. Bringing our customers on as investors was a natural fit, and it turns the people who already love the product into genuine stakeholders. For us, it was a no-brainer.
Were there any concerns or misconceptions about CSF that were cleared up once you got into the process
The biggest one for me was the shareholder cap. My understanding was that once a private company goes over 50 non-employee shareholders, you're pushed into becoming a public company, with all the cost, reporting and governance that comes with it. I assumed that applied no matter where those investors came from.
What I didn't realise is that CSF sits outside that rule. You can bring on a large number of retail shareholders through a CSF raise and still remain a proprietary company.
That was a honestly a turning point in the decision. It meant we could open the raise up to our community and customers without taking on the burden and overhead of running a public company. We got the benefit of a broad, engaged shareholder base without losing the simplicity and control of staying private.
A big part of a successful CSF raise is having the right people around you. Who did you lean on to help bring your story to life and get it in front of investors?
We were fortunate to have some fantastic partners on board.
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OnMarket connected us with Jigsaw Agency and The Anti-Socials, who handled the marketing side brilliantly and helped shape our story into something that really resonated with investors.
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On the PR front, it turned out that Drew Lambert, who OnMarket works with, was already our PR contact, so that was a great bit of luck. Drew organised some excellent publicity that got our name out to the right audience at the right time.
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We also used Jagger Partners for our legal advice, who were excellent and made a massive difference to that side of the process.
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My advice would be that you need experts across the board: marketing, PR, legal and people who understand the crowd space itself. Having partners who genuinely get what CSF involves made a huge difference for us.
What would be your biggest takeaway from the CSF process for other founders?
Honestly, my biggest takeaway for other founders is not to underestimate what the campaign does beyond the raise itself. We went in focused on capital, but the market awareness side turned out to be just as valuable.
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When you have a consumer-facing product, whether that's technology, beer or skincare, CSF is a massive advantage, because people genuinely enjoy being part of it.
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It's a bit like buying into a racehorse. You put a small amount in, and you might only end up owning a hoof, but you watch that horse run and you say, that's my racehorse.
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That's the feeling we wanted to create. No matter how much someone invested, we wanted them to look at the product and say, that's my sunscreen, that's my skincare, I own part of that