Launched on 30 June, after a pre-registration phase, the campaign surpassed Meatless Farm’s initial goal, ranking among the six percent of the largest withdrawals ever conducted through the Crowdcube platform.
The target was reached within the first six hours after the campaign was launched and, so far, more than 3,300 investors – mostly private – have already joined this fundraising, which has led to the extension of the campaign to respond to the high participation. With this initiative, Meatless Farm aims to give consumers the opportunity to “grab a slice” of the growing vegetable-based food market.
“It’s amazing to see how so many consumers value the importance and opportunity of plant-based foods and are joining us, too, as investors,” says Morten Toft Bech, founder of Meatless Farm. The founder adds, “This funding will help drive Meatless Farm forward, promoting progress toward a truly sustainable global food system, good for the planet and good for people.”
This is the first financing campaign open to consumers launched by Meatless Farm, after raising €44 million in three years of existence, from private investors and the family office. To participate in the current campaign, interested parties can purchase a stake in the company starting at €11.60, in the form of a convertible note, which will be converted into shares, at a discounted price, during the next round of corporate equity financing, planned for late 2021 or early next year.