Last month, Pact Coffee, a London-based coffee company, has launched an equity crowdfunding campaign on Crowdcube to raise £1 million as it begins to expand to other markets. The brand has reportedly been backed by some of European’s leading venture capitalists and has been recognized as an innovative fast-growing company.
Despite the fact that the campaign is off to a bit of a slow start, founder Stephen Rapoport continues to remain confident in his brand. During a recent interview with Business Insider, he revealed what’s truly important to Pact Coffee:
“We want to change the coffee industry for the better and to do that we aim to grow to a thousand times our current size. Investment from the crowd is going to help take us there. We are supremely excited about customer ownership and the co-creation of Pact going forward. I’m delighted that we are offering investors the same rights regardless of how much they choose to invest.”
Rapoport, who previously founded Crashpadder and sold it to Airbnb, recently noted why he decided to create Pact Coffee:
“I sold Crashpadder.com to Airbnb back in 2012 and started Pact on the advice of my wife, Emma. ‘Stop trying to think like a VC and do the thing you love.’”
Robin Klein of LocalGlobe, an existing investor in Pact, previously remarked:
“I think this is the right time to invest in Pact because a lot of the hard work has been done in laying the foundations of what could be a large company. The team, the product and the market make this the right time.”
Pact Coffee has nearly two and half weeks left to secure its funding goal.
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