Every euro we raise through bonds and investments is used to strengthen the supply chain we are building.

Our factories in Ghana are the heart of our model. We currently have two factories running, though not yet at full capacity. Scaling up takes time, training, and additional investment. Without these factories, there is no sustainable bamboo supply chain.

Furthermore, we have ongoing obligations. Yes, we have loans and debts, like any company in a growth phase. Part of the money goes toward paying these off. This keeps our foundation healthy and investor confidence high.

We also invest in cooperation with farmers. More than 2,500 farmers supply us with bamboo. We invest in training, fair payments, and a stable market. This provides families with direct income and security.

Additionally, money goes toward production and innovation. We are already supplying pulp to partner factories in Europe. Following successful tests, this is now being made into toilet paper. With this, the chain from bamboo plant to toilet roll has become a reality.

We are also opening a new market: the sale of parent rolls (large base rolls) to other toilet paper brands. This makes us not only a producer for ourselves but also a supplier for major brands. This is unique and provides us with scale, volume, and continuity.

Finally, a portion of our profit and efforts continues to go toward where it all started: building toilets in Ghana and realizing safe sanitary facilities.

The factories are running. That is a huge step. But to be honest: not yet at full capacity. The reality is that scaling up takes more time and money than expected. Machines need to be tested, staff needs to be trained, and processes need to become stable.

What is already happening: we are producing pulp that is being shipped to Europe. Tests there have been successfully completed and toilet paper is now actually being produced. With this, we are not only adding value to our own brand, but also demonstrating that the chain works.

And with the new opportunity, namely producing parent rolls, our factory will not only become a supplier for our own toilet paper rolls, but for the entire industry. This means scale, continuity, and the chance to become the leading sustainable bamboo paper supplier in Europe.

Like any growing company, we have loans and liabilities. That is normal in a phase where you are building factories, connecting thousands of farmers, and setting up an international chain.

The difference lies in how we manage them. Several investors have since been fully repaid. The first interest payments to bondholders have been made. We are repaying on schedule and ensuring that investments contribute to the further development of our chain.

Our model is clear: as soon as the factories are running at full capacity, those factories will pay everything back. That is when returns become structural, debts are repaid, and profit is generated.

Our valuation has been externally substantiated from the very beginning. When issuing share certificates, an independent party valued us based on ambition, growth, and future potential. In subsequent rounds, the valuations were slightly lower, as they aligned with the expectations and the stage we were in at that time.

Today, our position is different. With two factories running and off-take agreements with 2,500 farmers, we have a foundation we did not have before. This may lead to a different valuation, appropriate to our current stage and the opportunities that lie ahead.

But let’s be honest: valuation remains partly a matter of estimation, and the risk is high. Ultimately, it is up to each investor to decide whether they want to participate in this. And yes, things can go wrong. That is part of doing business at this scale. Those who participate do so not because it is risk-free, but because they believe in our mission and the opportunity to radically transform a supply chain.

Transparency is our starting point. We publish updates, pay out interest, repay investments, and share our plans publicly. Sometimes reality moves faster than administration; that is the nature of building on two continents at once. However, everything is open for discussion and transparent for those who wish to follow along.

We are often asked: you’ve already raised a lot of money, so why another round? The answer is simple: because we are in the middle of a phase where every euro is converted into growth and scaling.

Our factories in Ghana are running, but not yet at full capacity. Getting there requires additional investments: new lines, staff training, larger bamboo stocks, and a stable cash flow to ensure continued production.

In addition, the new market for mother rolls opens up an enormous opportunity. For that, we need scale. That means investing in production and distribution so that we can not only grow our own brand but also become a supplier for other brands in Europe.

For us, bonds are the way to finance that growth together with our community. We have consciously chosen to pay interest to thousands of fans and investors, instead of to banks. In doing so, we are building not just factories, but also trust.

Every investment carries risk. We are honest about that. Scaling up the factories is taking longer than planned. Cash flow can be tight, because investments are often needed before revenues are generated. We are building a supply chain in Ghana and Europe simultaneously – that requires courage and capital.

But this is also the opportunity. Investors are participating because they believe in the transition. Because they see that we have already achieved a great deal and because they want to be part of a radical change in the supply chain.

• Trust: 4,230 bondholders and 2,327 investors have already helped build this.
• Fulfilling agreements: multiple investors have been repaid, the first interest has been paid out.
• Impact: two factories are operational, thousands of farmers have additional income.
• Production: pulp from Ghana is now being converted into toilet paper in Europe.
• New horizon: with mother rolls, we are becoming a supplier for major brands, not just a producer of our own brand.

The AFM states that a fully approved prospectus is only mandatory for issues exceeding 5 million euros per year. Our bond issues fall below that threshold and comply with the exemption rules. This means we are operating fully within the legal framework.

However, we ensure that all terms, risks, and agreements are public and transparent for everyone. This way, every bondholder knows exactly what they are getting into. We consciously choose this form, as we prefer to pay interest to our community rather than to banks.

Impact has always been the reason we started. Our model isn’t just about paper, it’s about people.

In Ghana, we now work with more than 2,500 farmers who supply bamboo. For many of them, this provides an additional and fair income that directly benefits their families. Bamboo grows quickly, restores the soil, and can be harvested year after year without deforestation and without harmful chemicals.

Around our factories, jobs have also been created for about 200 people. From operators and technicians to logistics support and suppliers: the factory creates local employment and a chain that keeps value within the region itself.

And we invest in toilets and sanitary facilities. We have now built more than 233 toilets, which are used daily by over 12,500 people. For families, schools, and villages, this makes a world of difference: better hygiene, more safety, and a healthier living environment.

By setting up this chain, we show that sustainability, employment, and social impact go hand in hand with a healthy business.

The capital raised through investments will be used to realize various strategic goals that support the growth and impact of Goodroll Holding B.V. If not all bonds are subscribed, the amount may also be lower. This may mean that we cannot achieve all set goals. These goals include:

• Strengthening the management of the Ghanaian entity, with a focus on locally hiring a (European) general manager, a new head of HR, an operations manager, and a production manager. In the Netherlands, we are looking for someone to strategically manage TGRG Ltd. and all its projects. A carbon expert is also desired. With the expansion of the team, we can optimize and stabilize the Ghanaian production facilities, run them 24 hours a day, and scale up to meet the increasing demand for bamboo pulp sheets and bamboo jumbo rolls.
• Strengthening the Dutch entity: with additional resources, Goodroll Holding B.V. will strengthen its sales and marketing teams to increase brand awareness and enter new markets.
• The financial resources will also be used as working capital to create more inventory, for further professionalization of the internal organization and systems such as ERP, and to pay off outstanding creditors.
• The financial resources will also be used for regular cash flow.

Our round is currently 1,090,000 euros. We may open new rounds in the future with other potential investment amounts. 

Yes, there are no limits on the amount you can invest. The minimum amount to participate is €100 (equivalent to 1 bond), and there is no maximum amount. Please note, it is on a first-come, first-served basis. So act quickly and support us in our mission to make an impact.

That is very simple. You can purchase your bonds directly via https://investereninthegoodroll.com/bestellen/ . Please read the prospectus document carefully beforehand, so that you are aware of the terms and associated risks.

That is correct. We have used that to strengthen the organization and execute campaigns. We are in an extremely rapid growth phase where costs precede revenue. Every young, fast-growing company spends more money than it earns. That is why new funding is often required.

You purchase bonds with an annual interest rate of 10%. After one year, you receive the first 10% interest payment, and from that moment on, you receive interest every quarter. After five years, the bond is redeemed.

The bonds are tradable. After the first year, you will receive interest payments every quarter. See the payment dates below:

- bond round 1 - September 21, December 21, March 21, and June 21 of each year up to and including the Maturity Date. The first interest payment date is July 21, 2025. Accrued interest will also be added to this first interest payment.

- bond round 2 - September 21, December 21, March 21, and June 21 of each year up to and including the Maturity Date. The first interest payment date is July 21, 2025. Accrued interest will also be added to this first interest payment.

- bond round 3 - October 23, January 23, April 21, and July 21 of each year up to and including the Maturity Date. The first interest payment date is October 23, 2025.

- bond round 4 - February 21, May 21, August 21, and November 21 of each year up to and including the Maturity Date. The first interest payment date is February 21, 2026. Accrued interest will also be added to this first interest payment.

- bond round 5 - November 16, February 16, May 16, and August 16 of each year up to and including the Maturity Date. The first interest payment date is November 16, 2026. Accrued interest will also be added to this first interest payment.

Absolutely. One bond costs €100. You can participate starting from one bond.

Apart from the payment for the bonds, you are not obligated to anything else and certainly not liable. The management remains responsible for the operation of The Good Roll. Of course, we would appreciate it if you use our rolls and share our story.

If you purchase bonds with personal funds, they are considered part of your Box 3 assets, just like your savings. You are responsible for declaring them to the Tax and Customs Administration in your tax return.

If you buy bonds privately, you do not need to do anything else. They are simply your property, similar to savings or investments you make through a bank. If you buy the bonds for business purposes, you record them as securities.

Certainly, that is possible. You open an account on the platform in your company's name. You purchase bonds and pay for them using your business account. You then record the investment on your balance sheet at purchase value.

It is important to note that for opening a business account on the NPEX platform, having an LEI number is mandatory. 

Absolutely. Everything is done in accordance with the regulations of the DNB (De Nederlandsche Bank) and the AFM (Netherlands Authority for the Financial Markets).

Absolutely! You just need to live in an EU country. It's great to have you on board.

You can also ask all your questions via investeren@thegoodroll.nl. Would you prefer a personal conversation over the phone? No problem, we will call you if you leave your number.

After your investment, you will receive an email from us to open an account with our partner NPEX. Updates will be provided via The Good Roll and payouts via NPEX.

The Advertising Code Committee has issued a ruling regarding an advertisement concerning the bond issue of The Good Roll. The Committee ruled that the advertisement could have more clearly pointed out the financial risks associated with investing. It is important to emphasize that the ruling relates solely to the phrasing of an advertisement. There is no substantive criticism of The Good Roll's business model, strategy, or projects, including the development of the integrated bamboo paper chain in Ghana. The file confirms that comprehensive information regarding risks, financial position, and the use of funds was made available via the prospectus, the FAQ section, and additional documentation. The discussion focused primarily on the extent to which this information should have been explicitly stated within the advertisement itself. The Advertising Code Committee:

1. Imposes no fine
2. Issues no ban on the product
3. Merely requests that the advertisement no longer be used in the same manner

The decision is therefore a recommendation regarding communication. We have immediately acted upon the recommendation regarding communication. On our investment page, an investor can only invest if they specifically declare the following: "I hereby declare that I have read the prospectus and am aware of the risks." In our advertisements, we will also include a clear reference to the prospectus and the risks. The comprehensive document has been uploaded to our FAQ.