Online ethical food retailer fresh-range is launching a further equity investment crowdfunding opportunity.
The Bristol-based firm says it is aiming to gain a £400 million share of the £87 billion food market.
Following a successful crowdfunding campaign over the summer, the company raised its minimum target of £300,000 in just 24 hours in exchange for a 7.99 per cent equity stake.
Fresh-range is now providing a further investment opportunity up to a higher total of £550,000 for nearly 15 per cent in equity, so it can go further and faster with its innovation and broaden its customer expansion.
Available on seedrs.com, the offer will close on 20th September 2017.
“We’re on a mission. We believe local, fresh, seasonal food should be available to all, at an accessible price,” said Rich Osborn, founder and CEO of fresh-range.
“That’s why we’ve created a new kind of food company – with short, light and fast supply chains to deliver the best local producers have to offer direct to the consumer.
“There’s great potential in the market and we are inviting people who share our vision for fresher, locally sourced food, to join us on our mission to change the food industry for good, and become part of our success story.”
Founded in 2014, the company is scaling fast. This year fresh-range plans to more than triple 2016 sales, with £1m annualised revenue forecast by the end of 2017.
Fresh-range is shortening the journey of food between producer and consumer, providing transparent provenance on food and making sure that everyone gets a fair deal.
The online retailer offers freshly produced, locally sourced, award winning produce in sustainable packaging, delivered direct from producers to the door, ensuring fewer food miles, and fairer prices for customers and producers.
The company’s purpose is to develop food security for generations to come.
The new investment will help fund ambitious customer expansion plans to deliver fresh local seasonal food to more consumers, restaurants, schools, catering companies and councils, in Bristol, Bath and surrounding areas.
Mark Blandford of Valhalla Investments said: “The reason I have invested in fresh-range is that I love the market opportunity for home delivered fresh food with full traceability.
“Fresh-range has a great team to deliver on a savvy but realistic business plan.”
Blandford is considered one of the founders of the developed online gaming industry. His company, Sportingbet, reached a market capitalisation in excess of £2 billion in 1990s.
In 2007 Mark founded the Valhalla Investments and is a widely followed successful investor.
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