Bill Morrow, founder and CEO of Angels Den, believes this could be the fastest funded equity deal on his unique crowdfunding platform. He said: “Our angels are very astute and quick to invest where they see a great opportunity. Flavourly has significant growth potential with very little competition – it’s a no-brainer for investors.”
Flavourly founder Ryan O’Rorke has already won the Scottish EDGE, the largest business competition in Scotland, securing £34k in startup funding and has secured seed capital from Diet Chef founder and entrepreneur Kevin Dorren. This equity round will be used for aggressive customer acquisition and growth capital to turn Flavourly into a million pound business this year.
O’Rorke said: ” Flavourly is a marketing and discovery platform that is disrupting the £14.2bn fine food, snack and craft beer market in the UK; think marketing and feedback combined for businesses and new product discovery for consumers.
“We were thrilled to smash records at Angels Den with the most amount of investor offers before launch. Clearly the angels recognised that Flavourly is a highly scaleable and innovative business model with significant growth potential.”
Flavourly sources the best food products from niche, independent producers throughout the UK and packs them into a ‘Flavour Box’, delivering them to subscribers on a monthly basis. The Flavour Box contains a carefully selected range of 8-12 award-winning, great tasting and unique products. The business also offers small food producers the chance to get their products directly into the hands of targeted food loving consumers and trade owners.
Over the past six months Flavourly has reached 1,500 active paying subscribers at £15/month with 177,020 individual products shipped, they have worked with 90+ food brands and launched a national TV campaign.
Edinburgh-based O’Rorke explained: “At present, there is no direct quantifiable product sampling solution for CPG (consumer packaged goods) brands and craft beer producers.
“Flavourly creates a new distribution and marketing channel for these producers so they can reach new consumers nationwide and collect useful quantitative and qualitative sampling data for their brand. It also helps consumers discover new and exciting fine foods and drink that they otherwise would not have known existed at an affordable convenience.”