Stephen Rapoport thinks that the prospect of global trade lies just over Pact's shoulder.
Pact Coffee will use equity crowdfunding platform Crowdcube to raise over £1m for expanding the business internationally, tapping into premium coffee trends and supporting a direct trade business model.
The coffee delivery start-up plans to launch in at least two European markets after securing investment, supplying offices and launching further products that would make the service more relevant to coffee lovers.
Positioned to take advantage of a growing at-home coffee market worth over £1.1bn in the UK alone, Pact said that it has already built the logistics and technology to deliver a smooth and flexible service, with a customer base of thousands of coffee drinkers across the UK. Now for the first time, Pact will allow these customers and the general public to invest in the business from as little as £10, having previously secured more than £5.6m’s worth of investment from angel investors and institutional funds.
Stephen Rapoport, founder and CEO of Pact Coffee, said: “We want to change the coffee industry for the better and to do that we aim to grow to a thousand times our current size. Investment from the crowd is going to help take us there. We are supremely excited about customer ownership and the co-creation of Pact going forward. I’m delighted that we are offering investors the same rights regardless of how much they choose to invest.”
Robin Klein of LocalGlobe, an existing investor in Pact, said: “I think this is the right time to invest in Pact because a lot of the hard work has been done in laying the foundations of what could be a large company. The team, the product and the market make this the right time.”
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