TheFoodMarket.com is an online platform that hopes to tie together people’s love for good food and passion for organic, independently produced food.
Raising money on Crowdcube, TheFoodMarket.com is working with 150 independent merchants selling high-quality products to tap into the £9 billion UK Ethical Food & Drink market.
The team already have 150 hand-picked merchants on board, who offer over 3,000 natural and organic products, from gourmet cheeses to specialist health foods. Customers can filter by their dietary requirements to make finding vegan, vegetarian or allergen-free foods easier to find.
Wendy Snowdon, the founder and CEO of TheFoodMarket.com, has an impressive history having run the largest product division at Amazon (Books) as the Senior Product Manager. Working with TheFoodMarket.com, the team have secured investment from high-profile angels, including the founders of MoneySupermarket.com, feelunique.com and Play.com as well as had coverage in The Times, The Guardian, Jamie Oliver Magazine, Stylist and Delicious Magazine.
“We aim to have three revenue streams in our model. We currently charge a 15% (exc. VAT) commission on gross merchandise value (ie sales through the website) to merchants. This is an active revenue stream. There are two further revenue streams to be activated within the next 3-6 months, which are: a monthly fee to merchants and advertising revenue.”
TheFoodMarket.com will use this round of investment to expand their team and marketing activity, as well as enrich the website features to meet the growing customer demand.
“We have previously raised £357,700 over two rounds. Our original five angel investors followed into the next round, where we added a further three investors. We’re looking forward to adding even more fantastic investors through the crowd.”
So far, TheFoodmarket.com has raised 69 percent of their £200,000 target through 211 investors. They have a pre-money evaluation of £1,750,000 and offer an equity of 10.26 percent.