SNOAP, an innovative solid soap dispenser, has successfully secured a £50,000 investment on the popular BBC show Dragons’ Den, gaining offers from all five Dragons before choosing Deborah Meaden and Peter Jones as partners in the business.
Welsh businesswoman Lisa Hicks is the founder of SNOAP – the eco-friendly solution to excess plastic waste from hand, hair and body washing. Her pitch grabbed the attention of Dragons Deborah Meaden and Peter Jones, who won out against the other Dragons’, landing the business a double-dragon investment for a joint 7.5% stake in the business.
SNOAP offers a hand soap dispensing system designed with sustainability at its core. The product, which replaces 20 plastic soap bottles with two bar soaps, was created after Lisa realised how much single-use plastic her family used during the COVID-19 lockdown.
Identifying a market gap for a product that combines the environmental benefits of solid soap with the convenience of liquid dispensers, Lisa created the SNOAP Dispenser, which offers hygienic and mess-free dispensing of solid soap, while reducing plastic waste and saving on costs.
To accelerate the growth of SNOAP, Lisa joined the NatWest Accelerator programme 18 months ago and the bank’s support has helped her business become Den-ready.
Captivating the Dragons' attention during her appearance on the show, Lisa gave a live demonstration of the product in action and allowed the Dragons to inspect the innovative product firsthand. With all five Dragons showing a keen interest in the product and offering their pitch, Peter Jones and Deborah Meaden came out on top. Lisa chose the pair of investors, saying she could see the benefit Deborah’s expertise with other sustainable businesses would bring to SNOAP.
Lisa entered the Den with the aim of securing the £50,000 investment to bolster marketing efforts and drive B2C sales, with the credibility of investment from the Dragons also helping to cut through the market.
Lisa said:
“Stepping into the Den was a nerve-wracking but exciting experience. I was confident the Dragons’ would love SNOAP and I knew my numbers inside out having been supported by the NatWest team via their Accelerator over the last 18 months. I joined the digital Accelerator with the aim of levelling up and becoming investment ready, and the support of 1-1 coaching from NatWest has been invaluable in preparing for this opportunity.”
She added:
“I’m looking forward to working with Deborah and Peter to expand SNOAP with both consumers and businesses to reduce the plastic issues generated by hand, hair and body washing while also saving consumers and businesses money.”
Luke Pamflett, Accelerator Community Manager at NatWest, said:
“We are incredibly proud of Lisa and SNOAP for this significant achievement. Our goal is to empower entrepreneurs to realise their potential, and SNOAP's success on Dragons’ Den, winning over not one but two Dragons, is a testament to the incredible talent and innovative ideas we see amongst our Accelerator participants.”
