An online food discovery business has become the fastest ever to be equity crowdfunded in the UK.
Flavourly launched last Monday on Angels Den, and stormed to its fundraising target of £116k in less than 24 hours. The startup business sources premier food products from niche, independent producers across the country and packs them into a “Flavour Box”. This box is then delivered to subscribers on a monthly basis. The box’s content is carefully chosen, award-winning and unique. The idea allows small-scale food producers to supply an ideal base of food-loving consumers and trade owners with their product.
The breakneck speed with which the innovative startup was financed led Angels Den Founder Bill Morrow to announce stretch funding options for the campaign:
“I had anticipated that Flavourly would do well with crowdfunding, it’s the perfect way to build a customer base as well as raise the capital the business needs to scale.
“The additional funds will be used to ramp up customer recruitment even more and reach the scale in numbers that we are projecting to achieve."
Morrow, understandably proud to have hosted the record-breaking project, explained the benefits of the Angels Den crowdfunding model:
“The success, and speed, of our crowdfunding model is down to the strength and knowledge of our 6000 strong angel network. Their experience means they know what they like as soon as they see it, and they’re quick to show their support.”