With its equity crowdfunding campaign set to close on Crowdcube later this evening, online food and beverage marketplace, TheFoodMarket, will complete the funding round with £350,000 in funds.
As previously reported, TheFoodMarket describes itself as an e-commerce marketplace that connects discerning customers with merchants that produce or sell high-quality products that are currently not found in supermarkets. TheFoodMarket already has 150 merchants on its website, and they offer more than 3,000 natural and organic products (with some selling exclusively through the website).
“We love great food, and we want to make the experience of discovering incredible, independently-produced food (the sort you would find while browsing a local food market) as convenient as a trip to the supermarket. So, we created TheFoodMarket.com — a sprawling online marketplace for fine-quality, natural and organic food and drink from small producers and sellers.”
Since its launch in 2016, the platform has achieved the following:
- Projected to generate 140,000 in gross merchandise value by FY ending April 2017
- Received coverage from The Times, The Guardian, Jamie Oliver Magazine, Stylists and Delicious Magazine
- Received backing from the founders of MoneySupermarket, FeelUnique, and Play.com
In the recent update, TheFoodMarket team stated:
“Crowdfunding for us has been hugely exciting and a way to reach a breadth of investors we would have struggled to do otherwise. It has, at times, felt daunting. But we reached, and then far exceeded, our target, and we really felt the swell of support from ‘the crowd’, our network and family and friends too. Thank you again!”
Funds from the Crowdcube campaign will be used to expand TheFoodMarket’s platform.
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