Pact Coffee, the fresh coffee delivery startup that sends coffee through the post roasted, ground and shipped within 7 days, today launches an equity crowdfunding campaign on the platform Crowdcube (www.crowdcube.com/pact).
“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”, said Stephen Rapoport, Founder and CEO of Pact Coffee.
Positioned to take advantage of a growing “at-home” coffee market worth over £1.1bn in the UK alone, Pact has already built the logistics and technology to deliver a smooth and flexible service, with a customer base of thousands of coffee-drinkers across the UK. Now for the first time, Pact is allowing these customers and the general public to invest in the business from as little as £10.
With the investment, Pact plans to expand into at least two European markets, supply offices and launch further products that will make the service even more relevant to coffee lovers. Rewards for top investors include a lifetime of free coffee, expert coffee classes and limited edition coffees.
As Robin Klein of LocalGlobe, and existing investor in Pact, said: “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.”
Earlier this month, Pact launched Nespresso®-compatible pods on PactCoffee.com, sent through the post in packaging that will fit through a letterbox. As with the current flexible Pact service, you can amend orders, or pause or cancel your account at any time. Through a Direct Trade supply chain, Pact pay a higher price than Fairtrade for premium beans, working with farmers to help them invest in quality and people.
Pact has previously received over £5.6million in institutional funds from the likes of MMC Ventures, Connect Ventures and angel investors Taavet Hinrikus (TransferWise), Ian Hogarth (Songkick) and Rowan Gormley (Naked Wines).