Back in 2013 before equity crowdfunding was legalized in New Zealand, Auckland based Angel Food launched a very small rewards based crowdfunding campaign on PledgeMe. Tomorrow Angel Food will return to PledgeMe but this time the funding is for equity in the small company and funding goal substantially higher.
Angel Food is a vegan food company that is looking to raise a minimum of $75,000 and maximum of $150,000 or between 10.3% and 18.8% of the company. The shares are all ordinary voting shares at a price per share of $65 and a minimum required investment of $650. According to founder and CEO Alice Shopland the new capital will be used to expand the company and the range of products they sell.
“PledgeMe’s equity crowdfunding makes total sense for Angel Food, because we have a crowd of people who passionately believe in us and our products,” said Shopland. “Plant-based diets are the way of the future because animal agriculture is so resource-intensive and so environmentally damaging.
“Food allergies and intolerances are also increasing sharply, and dairy is one of the most common. Dairy-free milks are easily found all over NZ, but dairy-free cheese alternatives are a new category — we’re right at the forefront.”
“After the raise, we will concentrate on product development, marketing, and expanding our team to support our ambitious growth plans. We want Angel Food to be the most recognised vegan brand in Australasia, and to be available in European and Asian markets.”
PledgeMe CEO Anna Guenther believes that Angel Food has an awesome crowd of customers who are “hungry” to invest.
“Angel Food’s customers love what they do because they do it so well. Who couldn’t love a company that allows people to eat cheese who otherwise couldn’t. In late 2013, Angel Food successfully project crowdfunded on PledgeMe to launch their line of vegan meringues. Not only was this a delicious campaign, but it showed that Angel Food’s crowd are willing and able to get behind them.”
Guenther said it was great to see another company that had completed a rewards campaign using PledgeMe to raise equity.
“PledgeMe provides a great pathway for companies to go out to go out to their crowd and build up support. We’re really happy Angel Food has taken the next step and look forward to other companies launching equity campaigns soon.”
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