Cloversoft Co-Founders Angela Sim & Lynn Yeo Give Up High-Flying Jobs To Launch Tissue Brand
Picture this: You have an extremely successful job that pays you a five-figure salary every month, and you’re living the type of life that most folks can probably only dream of.
Would you give it up to start your own business from scratch… and sell toilet paper?
We wouldn’t blame you if you said “no”, but that’s exactly what Cloversoft co-founders Angela Sim and Lynn Yeo did.
Cloversoft co-founders Angela Sim (left) and Lynn Yeo (right)
It was certainly an unconventional decision, especially with most entrepreneurs opting to dabble in more ‘glamorous’ sectors like F&B, fashion, or tech. And it most definitely wasn’t a smooth-sailing road.
But it was their love for the environment – and the support from customers – that spurred them on, as they shared with MS News one afternoon in their Beach Road office.
Cloversoft co-founders want to make going green easier for everyone
Ms Sim, 41, and Ms Yeo, 42, met as investment banking directors at HSBC a decade ago, where they managed wealthy clients from overseas.
In 2013, a businessman introduced Ms Sim to a scientist in China who was developing unbleached bamboo tissues, which were not only soft and safer for the skin, but also sustainable.
“Bamboo is a type of grass, and the whole purpose of using them is to drop our reliance on trees,” Ms Sim explained.
At that time, she revealed, the world had lost 43% of its tree population — an alarming statistic that spurred the creation of Cloversoft’s very first product, unbleached bamboo toilet paper, the following year.
And Ms Yeo, who has always been passionate about the environment, was the perfect business partner. “She would bring things back from the office to recycle,” Ms Sim laughed.
While recycling bins are commonly found in neighbourhoods now, that wasn’t the case 10 years ago. However, there happened to be one near Ms Yeo’s house, so she decided to make use of it.
“When we first started Cloversoft, we realised that many people want to go green, but it has to be a bit more convenient for them,” she said.
That’s the brand’s aim — to make it easier for consumers to adapt to eco-friendly practices in their daily lives.
A ‘very painful’ start
Most business owners would say that the entrepreneurship path can be arduous, and it was no different for Ms Sim and Ms Yeo.
“I knew it wouldn’t be easy, but I honestly didn’t expect it to be so difficult!” Ms Yeo exclaimed. In fact, Ms Sim described the earlier days as “very painful”.
Before launching Cloversoft, both Ms Sim and Ms Yeo were headhunted by another bank. They initially considered joining the bank while running the company on the side, but when they realised it would be overwhelming, they rejected the job offers to focus on Cloversoft.
Needless to say, bidding goodbye to a profession they’d dedicated years of their life to was difficult.
“You lose sleep almost every day to get to this level,” Ms Sim mused.
Similarly, Ms Yeo had to mull over whether she was willing to let her 10-year banking career “go to waste”, but she eventually decided to take that huge leap of faith.
“As much as banking was fun and the money was good, after a while, it didn’t give me the same kind of joy and excitement as before,” she said. “So I thought the change would be good for me in terms of my personal growth.”
Invested 7-figure amount into Cloversoft
Without another source of income, they had to dip into their savings to get Cloversoft up and running. Ms Sim even sold the penthouse she was living in at that time to fund the venture.
Together, they pumped a seven-figure amount – in USD – into starting the biz. To their horror, they didn’t expect to see the money “just burning and burning” away.
“We didn’t know it was gonna be so much — the costs just kept piling up!” said Ms Yeo.
Ms Sim now advises aspiring entrepreneurs to be extra careful when dealing with major corporations.
“Someone could lose their life savings not understanding what it’s like dealing with supermarkets,” she warned, adding that one must be ready to stand their ground so they won’t be taken advantage of.
Faced rejection from retailers & staff
Financial hurdles weren’t the only ones the pair had to contend with. Since unbleached tissues were rare in the market back then, the public had many misconceptions due to their natural brown tone.
Ms Sim recalled a not-so-friendly conversation she once had with a supermarket worker who was putting their products on the shelves.
Excited to introduce Cloversoft to her, Ms Sim chirped, “Eh, aunty, this is bamboo!”
To her surprise, the woman snapped back, “Why do you want to sell such dirty tissue paper?”
Retailers also rejected them at first, saying they weren’t keen on stocking their items. “Being eco-friendly was not ‘trendy’ back then — in fact, it was taboo,” shared Ms Sim.
While the negative feedback was understandably discouraging, the tenacious twosome refused to give up.
They took every opportunity to patiently explain their products to anyone who would listen and slowly managed to win folks over.
And there’s plenty to like about Cloversoft’s tissues.
In addition to being made out of sustainable materials, they’re also naturally antibacterial and don’t contain harmful chemicals used in bleaching, which is why they’re not blindingly white like other paper products.
Cloversoft is now on a roll
Soon, Ms Sim and Ms Yeo’s hard work and perseverance began to pay off. Despite the slightly rocky start, things eventually began to look up for Cloversoft — by the time they hit their second year in business, they’d already surpassed S$1 million in sales.
We guess you could say that they were finally… on a roll.
As the company grew, so did its fanbase.
Admitting that there were times when she just wanted to give up and go back to banking, Ms Sim shared that it was letters from supportive customers who helped them endure the trials and tribulations.
“People would write in to thank us for our products, and just one message like this was enough to keep us going,” she smiled.
Now in its eighth year, Cloversoft has expanded beyond our sunny shores and established a presence in five other countries, including Malaysia, Taiwan, and Cambodia.
It has also been enjoying a 300% growth in sales year-on-year and is doing so well that Ms Sim said that she and Ms Yeo have a much higher net worth now compared to their high-flying banker days.
Apparently, the take-home pay’s not bad either. “It’s very comfortable,” she grinned.
We suppose everyone who gave them crap (pun intended) for going into the toilet paper business must be eating their words — and there were a lot of such naysayers.
“All people remembered was that we quit our jobs to sell toilet paper, so that became a joke for quite a number of years,” Ms Sim sighed. “But we also sold tissue paper!”
These days, the brand also sells many other household essentials, such as body soap, hand sanitiser, laundry detergent pods, wet wipes, and more.
Like their OG product, these are also safe, non-toxic and eco-friendly.
Cloversoft supports important causes
Throughout all its ups and downs, Cloversoft has never forgotten to give back.
One of the most recognisable parts of the brand’s packaging – besides the pretty green colour – is the polar bear, which represents their support of Polar Bears International.
A portion of their sales proceeds goes to the non-profit conservation organisation, so by purchasing Cloversoft products, you’re helping these vulnerable creatures too.
Ms Yeo revealed that it was Ms Sim’s idea to help polar bears.
According to Ms Yeo, they were going on a business trip together and watching movies on the plane when she suddenly noticed Ms Sim crying.
“I asked her what happened. Apparently, she was watching this documentary on polar bears who are trying to hunt, but because the sea ice is melting so fast, the bears can’t find enough food before going into hibernation.”
Besides feeling devastated over the bears’ plight, Ms Sim explained that the furry beasts reminded her of her ageing pet dog, tugging at her heartstrings even more.
Polar bears aren’t the only things dear to the Cloversoft co-founders’ hearts.
The establishment now also spotlights other animal causes like dog shelters and orangutan foundations. They haven’t forgotten about humans either and are strong advocates for mental health awareness and the LGBTQ+ community.
Buying toilet paper has never been so meaningful.
Big plans for Cloversoft
It’s always inspiring to see enterprising individuals like Ms Sim and Ms Yeo who not only plough on to make their dreams a reality, but also remember to give back to important causes at the same time.
Launching your own business is never easy, but when it seems like you’re giving up everything to start all over again, it can be even more daunting, making their efforts all the more commendable.
If you think they’re going to rest on their laurels and slow down, think again — there are plans to develop even more types of products and expand operations to Indonesia, Vietnam, and the United States soon.
Their aim? To build the largest eco-friendly fast-moving consumer goods (FMCG) company in Singapore.
Now that’s one worthy way to put the country on the world map.
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Featured image by MS News.
