THIS, a plant-based meat creator, has quickly topped its £4 million funding target on Seedrs. At this moment, THIS has raised over £5.7 million from 2179 investors on Seedrs. The company is raising equity capital at a pre-money valuation of £150 million. The security is being offered under the Seedrs Nominee structure but is not expected to be available for secondary trading. Initially, the securities offering was only available to pre-registered investors but is now available to anyone. It was reported that THIS hit the £4 million amount in under 2 hours.
THIS is one of several securities offerings on the Seedrs platform that is being co-listed on Republic – the US-based securities crowdfunding platform that announced its acquisition of Seedrs earlier in 2022. Only accredited investors may access the offering in the US in Republic’s private deal room.
THIS claims the title of the fastest-growing plant-based meat brand in the UK. Its revenue has been fueled by a growing number of retailers that are offering its product on its shelves. THIS currently has a range of 11 products in over 10,000 distribution points and has also partnered with restaurant chains in the UK.
That along with the company’s explanation that their product is superior to other plant-based meat brands. In 2022, the company anticipates annual revenue of around £17.5 million – up from the year prior of £11.8 million.
THIS will have multiple options to provide an exit for any investor including an initial public offering or sale to a competitor – an event that may become more probable if it continues to scale at its rapid pace.
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