The Big Scoop: Gelateria Ice Wave Quickly Overfunds on Crowdcube Spain

You scream, I scream, we all scream for ice cream… and gelato. It’s that wonderful time of year when the weather warms and the gelaterias and ice cream shops reopen. Enter Ice Wave.  Crowdcube Spain investors quickly responded to Ice Wave‘s equity crowdfunding campaign, helping the ice cream entrepreneurs to easily surpass their original 222,160€ goal in just three days. With 47 days remaining on the campaign, Ice Wave has raised over 246,799€ from 129 investors for 8.98% equity offered. The largest single investment to date has been 30,000€.  Ice Wave’s reach goal of 277,700€  is a only a few scoops  — or rolls — away.

The Palma de Mallorca based company founded by Bartomeu Riutord, Jaume Riutord, Angel Morado and Joan Juaneda aims to make a completely different kind of ice cream (rolls not scoops), tailored to each customer’s choice of healthy ingredients by utilizing its own patented machinery. The original idea of how Ice Wave makes its ice cream comes from Thailand, where one of the founders studied his MBA.

As Ice Wave can adapt its business to very small spaces, the team is seeking to franchise the gelateria’s business model. Ice Wave opened its first store in Palma de Mallorca in June 2015 and soon after signed its first franchise agreement for a Barcelona location in June 2016, an Ibiza location in November 2016 and its first International contract for a Ljubljana location (Slovenia) in December 2016 (where ice cream is served as early at 9:00am). Investors can expect enjoy ice cream at a fourth franchise in Valencia and a fifth franchise in Madrid soon.  According to the campaign, the Ice Wave team has received more than 800 direct franchise applications distributed worldwide.

Awards for Ice Wave include:

  • Finalists in the “La Caixa” Entrepreneur XXI Prize in November 2016.
  • Winners of the National BrainPrise Award in February 2016.
  • Finalists in the Young Entrepreneurs award in February 2016.

What sets Ice Wave gelato apart:

  • innovative gelato in its composition, elaboration and presentation.
  • patented plates using the corresponding utility model.
  • adapt the business to very small spaces, optimizing the profitability per square meter.

The team expects to close 2017 with 10 new closed franchise agreements and with one more company-owned store, close 2018 with 23 new closed franchise agreements and three company-owned stores and close 2019 with 52 new closed franchise agreements and seven company-owned stores. For more campaign details, click here.

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