Funky Veggie, the French startup which produces vegan snacks and breakfast products, recently raised 2 million euros. But instead of calling on investors, the company preferred to call on its community through the method of participatory financing, a method increasingly used, especially by young startups.
The company said on its social networks: “We are very proud to have raised a brand new kind of 2.0 fundraising, in total agreement with our values: thanks to our customers and our community of more than 100,000 people, nearly 600 “citizen investors” have joined our adventure.”
According to L’ADN, individuals had the opportunity to contribute between €100 and €300,000. In exchange for this contribution, participants in the funding campaign have the opportunity to join the “Funky Club”, which will allow them to give their opinion on certain projects. The startup will thus be able to create innovative products that correspond to consumers’ needs.
Funky Veggie is particularly present on social networks and has more followers on Instagram than M&M’s France, for example. This is what led to the success of this fundraising. In addition to the support provided by individual contributors, Funky Veggie was also able to count on the support of the Femmes Business Angel network and the Clover family fund.
Funky products are particularly popular and are available in supermarkets, for example at Franprix or Carrefour City. The brand’s OUF! vegan spread was even awarded a prize in the “sweet grocery” category at the LSA Organic Growth Awards earlier this month. Thanks to these new funds, the company will be able to develop new and even funkier vegan products.