Fresh-range, the Bristol-based online ethical food retailer, is launching a further equity investment opportunity, in its bid to gain a £400 million share of a £87 billion food market. The company revealed that 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% equity stake. It is now providing a further investment opportunity up to a higher total of £550,000 for nearly 15% in equity so that it can go even further and faster with their innovation and broaden their customer expansion. Available on Seedrs, the offer will close on September 20th.
Founded in 2014 by Bristol entrepreneur, Rich Osborn, fresh-range stated it plans to more than triple 2016 sales, with £1 million annualized 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.”
As of August 2017, fresh-range has already achieved:
- 2500+ customers registered, currently delivering to every Bristol and Bath postcode
- 4 million meals cooked by school kitchens across the South West using fresh produce delivered by fresh-range during the last academic year
- Two major universities in the South West are sourcing local produce through fresh-range to serve around 50,000 staff and students with fresh produce from local farmers, makers and bakers
- Three-year contract to supply Bath and North East Somerset Council won providing food for 40+ schools purchasing £2.1 million of produce
- Appointed to West of England Public Sector Food Procurement Group
- Additional £6 million+ annual pipeline across wider West of England region in discussion
Rich Osborn, Founder and CEO of fresh-range stated:
“We’re on a mission. We believe local, fresh, seasonal food should be available to all, at an accessible price. 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.”
The new investment will help fund customer expansion plans to deliver fresh local seasonal food to more consumers, restaurants, schools, catering companies, and councils, in Bristol, Bath and surrounding areas.
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