UK plant-based meat maker Meatless Farm is giving consumers an opportunity to invest in the fast-growing company, as it launches a £5 million crowdfunding campaign. The move comes amongst a spate of crowdfunding successes for vegan businesses, as investors look to cash in on the plant-based boom.
“We are reaching a tipping point” – Meatless Farm CEO Morten Toft Bech
Individual investors can get started by investing just £10 into the company, which already stocks its plant-based products in most major supermarkets including Tesco, Morrisons, Asda, Sainsbury’s, and Ocado. Founded in 2016 by Morten Toft Bech, and launched in the UK in 2018, the Yorkshire-based company now operates in more than 20 countries, including the US, Germany, Spain, and the Netherlands.
Having previously raised £38m over the last three years from larger investors, the Crowdcube powered funding raise is aiming for a further £5 million and Toft Bech is confident it will be oversubscribed. Meatless Farm increased sales by 150% in 2020 and is forecasting revenue of up to £30 million this year.
As the hype surrounding vegan investments gathers, many companies are looking to crowdfunding as a novel fundraising solution. UK-based vegan recipe kit brand Grubby recently far exceeded its target in its crowdfunding campaign, and Spanish plant-based meat brand Heura raised almost €4 million within 24 hours, far surpassing its target of €1 million. Vegan Launch, a vegan public investment crowdfunding platform, also launched recently.
“We are reaching a tipping point,” Meatless Farm’s Toft Bech told the Guardian. “We could reduce around 8% of the UK’s total emissions if we all ate just one less meat meal per week.
“There’s a lot of money and power lying in meat, so the conversion will come – it’s just going take a bit longer before it’s really mass market, maybe similar to what we are seeing with electric cars,” he added.