Vegan online retailer hits funding goal in two days
Scottish-based online retailer, TheVeganKind has hit their £300,000 funding round target in two days on investment platform Seedrs and now has its sights set on a £600,000 stretch target.
Once just a subscription box, TheVeganKind has grown rapidly since its inception in 2013, now operating a full online supermarket selling thousands of vegan and plant-based products.
This funding round will enable TheVeganKind’s growing customer base to invest in and support the business as it looks to expand its operations.
TheVeganKind's founders, Scott and Karris McCulloch, created the online supermarket after becoming frustrated by searching supermarket aisles, checking labels and ingredients lists in their hunt for vegan products.
Determined to make a vegan lifestyle easily accessible to all, they decided to launch a subscription box that would be delivered once a month, enabling customers to discover new and exciting vegan products. A vegan beauty box followed and the duo continued to experience overwhelming demand for their fledgeling business.
In 2016, TheVeganKind moved into the world of e-commerce and opened a full online store that now stocks over 4,500 100% vegan products including vegan cheese, bacon, burgers, doughnuts, chocolate and much more.
Having tapped into one of the fastest-growing lifestyle movements, the business has shipped out over 130,000 orders in 2019 alone and has reached £5.6m in revenue since the company’s launch.
In the UK, veganism has quadrupled in the last four years and innovation in the sector continues, with the UK launching more vegan products than any other nation in the world last year.
Co-founder and CEO, Scott McCulloch, said: “We completed a successful rewards-based crowdfunding campaign at the back end of 2018 and since then we’ve received a lot of questions on when we would be doing an equity raise and when customers could buy shares.
"We are delighted to announce that the time has now come. Our community is at the heart of absolutely everything we do and we are completely focused on improving access to a vegan and plant-based lifestyle.
"The support that we’ve received to date is nothing short of extraordinary and we can’t think of a better way to say thank you than to give our community a chance to join us for the next step of our journey and be a part of the future of food.”