Denheath Desserts, a custard square brand from South Canterbury, launched its crowdlending campaign on PledgeMe on Monday. The company is seeking a minimum of $300,000 (max $1.2 million) to accelerate its self-proclaimed “World Custard Invasion,” grow distribution and New Zealand, and start expansion plans in Hong Kong, Singapore, and New York City.
“From a small sleepy family-owned cafe to an iconic South Island brand in the space of seventeen years – we’ve done a lot since our small beginnings in Pleasant Point. But a couple of things have stayed constant throughout our journey: we’re still family-owned and we take great pride in that; our Timaru roots are as strong as ever; our secret custard square recipe is still delicious; and the values that my mum passed to us when she entrusted us with Denheath continue to guide everything that we do.”
Lisa Templeton, co-owner of Denheath Desserts, stated:
“From Coromandel to Korea, New Plymouth to New York, we’ve had people crying out for our custard squares. When we were passed the mantle, my mother’s last wish was for us to take the product national and international. After looking at various different ways of raising funds to grow Denheath, we talked to PledgeMe about doing something a little different. After seventeen years of meaningful work, we felt crowdlending really suited our company’s family values. It gave us the choice to grow with the help of like-minded kiwis who love our product, want to be a part of our success and want to also to see regional growth in New Zealand. And it goes way beyond the money – our crowd will become our ambassadors as well as our investors.”
The company also revealed that the minimum investment is $500 and lenders will receive 8% interest per year over a five-year period. Lenders will receive interest only payments for the first three years, and interest plus principal gradually over the final two years. The campaign is set to close at the end of November.
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