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Alternative Finance blog

Veganism is on the rise and so is investment in it

Veganism is on the rise and so is investment in it

2 years

Restaurant chain Stem + Glory is expanding with thanks to 680 investors who helped it to raise more than £600,000 on equity crowdfunding platform Crowdcube this week (funding closed on Tuesday 3rd April).

A plant based restaurant chain on a ‘mission to disrupt’ and ‘turn everyone vegan’ may not appeal to everyone but it is riding a wave of momentum. Documentaries available on media streaming channels like Netflix, such as Cowspiracy, and the rise in popularity of ‘Veganuary’ which challenges people to go vegan for a month, are boosting the numbers of vegans in the UK.  The Vegan Society commissioned Ipsos Mori to poll 10,000 people about their diets and found that Britain’s vegan population had increased from 150,000 to 542,000 people in a decade. Significantly almost half were aged 15 to 34 years.

Redemption bar is currently seeking capital investment on Crowdcube. 100% vegan, gluten free, sugar free and alcohol free Redemption is an interesting concept for London, established by a former Virgin brand director and vegan chef.   They are seeking £300,000. With less than two weeks to go the team had £86,600 pledged (29% of its target) and is looking for more. Perhaps the media coverage in the likes of Metro will encourage more investors? Perhaps when its EIS status is confirmed savvy investors will be tempted, certainly the loss relief will be helpful in when is a notoriously tough trade to succeed in.

Not all fund raisers succeed of course, no matter their targets or quality.  In October last year (2017), Pomodoro e Basilico, raised more than £150,000 on Crowdcube thanks to more than 250 investors for a new vegan deli bistro. However, after announcing a change to its advisor team investors withdrew funds from the deli stall and catering company failed to meet its target.   

But there are more vegan enterprises than those in the restaurant trade. In February Tunbridge-Wells based ‘perfect world’, a ‘healthy’ ice cream maker stocked in Ocado and Tesco, raised more than its target £100,000 to launch a new vegan range. Meanwhile Spare Fruit, which is not only vegan but also uses what would otherwise be waste product to make fruit crisps, successfully raised over £300,000 last year and is now expanding. 

Interested in looking under the bonnet of UK equity crowdfunding opportunities? You don’t have to visit every platform; you can check out the options in one place on businessagent.com and filter via EIS or SEIS eligibility. There are helpful free summary ratings for some pitches for money too thanks to crowdratings.

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