Frozen yogurt brand Lick has announced a crowdfunding campaign on investment platform Crowdcube, as it seeks to raise £200,000 towards future growth.
The UK-based producer is offering 6.25% of its business with investments as low as £10, and has said that generated capital will be put towards establishing “growth with major retail partners, trade marketing, [and] building brand awareness through ‘traditional’ initiatives as well as guerrilla activities”.
Lick is offering both A-type and B-type shares; investors pledging more than £5,000 will receive A-shares, which entitle them to full voting rights in the company. At the time of writing, the campaign had received more than £76,000 from 144 different investors, with the largest investment standing at £20,000. The current offering values the business at just over £3m.
Lick has also released a new video explaining the story and potential behind the brand, as it tries to encourage prospective investors.
“Lick aims to become the leading face of frozen yogurt in the UK, Europe and beyond,” the company’s Crowdcube pitch said. “We plan to begin exporting this year and already have significant interest from several potential European customers. We believe we have only realised a small part of Lick’s potential, but have achieved enough so far to have complete confidence that our product and brand is the absolute best in the market.”
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