Following the closing of The Genuine Cake Company’s recent IFISA crowdfunding round, Crowd2Fund took a look back at the luxury cake company’s success on its funding portal.
The Genuine Cake Company, which was founded by Sach and Marie Sinclair, describes itself as a London-based luxury wedding cake supplier that serves 5-star wedding venues and prestige hotels, as well as brides and grooms across the region that are looking for “exquisite” wedding cakes that offer a culinary cake sensation rich in both flavor and design. Last year, the company partnered with Crowd2Fund to raise a revenue loan to accelerate its growth. After its first crowdfunding success, the bakery hosted a Seasons of Sugar event to display its luxury cakes at the Lanesborough Hotel and recently opened a new flagship store in the exclusive Mayfair area of London, and its profits have reportedly skyrocketed ever since.
While sharing details about The Genuine Cake Company’s reason for using its crowdfunding platform, Crowd2Fund stated:
“Sach, Director of the company, specifically wanted to raise a Revenue Loan; one of the main benefits of this unique and innovative financial product is the flexibility it offers. Monthly repayments are calculated based on the growth rate of the business, giving earlier stage businesses like The Genuine Cake Company the flexibility to make repayments based on their monthly turnover.”
Last month, the company returned to the crowdfunding platform and raised a loan of £101,000 within a few days from 200 investors. Crowd2Fund revealed that all returns generated for investors are tax-free through IFISA. The funding portal also explained:
“This potential liquidity is brilliant for industries such as baking. The UK bakery market is currently worth £3.6 billion and is one of the largest markets within the food industry. The total volume at present is approximately just under 4 billion units per year, the equivalent of almost 11 million loaves and packs sold every single day.”
Sash then added:
“Crowdfunding is absolutely amazing: the way it just works and has given me access to the finance I desperately needed to grow my business that the banks just would not lend. The added benefits of having my own team of investors and also the ability to market the opportunity to my existing customers is just great. We’re going to be working with the guys at Crowd2Fund for a long time!”
Sach and Sinclair are now planning to open more stores throughout the UK and is aiming to compete with the highly successful bakeries, like the Hummingbird Bakery.
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