- Simple Feast has raised over $50 million since being founded in 2017
- CEO Jakob Joenck previously co-founded Endomondo and was head of International Operations for My Fitness Pal – a rich history of building successful companies for the good of people
- Simple Feast enters crowdfunding to empower its followers as entrepreneurial investors in a company made for the good of all
- Simple Feast operates in Denmark, Sweden and Los Angeles, part of the new raise is to drive international and further US expansions
Simple Feast, the sustainable food company that delivers environmentally friendly meals across Denmark, Sweden and Los Angeles, has opened up shareholding opportunities to the public, making it possible for everyone to get ownership in the fast growing company – democratizing it’s structure and allowing the people to own one of Europe’s fastest growth sustainability companies. The raise begins to pre-registered investors on April 14th – and will be open to anyone on Crowdcube 24-48 hours after.
20% of stock trades are made by retail investors, according to Bloomberg Intelligence and it has been estimated that ordinary retail investors have on average accounted for 23 percent of all US equity trading in 2021, more than twice the level of 2019 – Retail stocks went up 97%… in March. Trends are showing that an increasing number of people are getting into the stock market and starting their investment journey. Amature investors in great numbers have changed how global markets work. The boom in people investing is also good news for Simple Feast’s CEO Jakob Joenck.
“We have decided to offer shares of our business to show our loyalty to existing as well as future customers, because they are the ones creating real change in the world everytime they eat plants instead of meat. This is the reason that we are now making it possible for them to join us on our journey and own a part of Simple Feast,” says CEO Jakob Joenck.
Simple Feast started its plant based food adventure four years ago and has experienced great success ever since. It operates in Denmark, Sweden and Los Angeles and has grown 110% year over year in meals delivered.
In 2019 Simple Feast raised a total of $33 million in a Series B round led by US-based venture capital firm 14W, with a number of other existing investors, including Europe’s Balderton Capital, increasing their investment in the business. Earlier this year the company extended the round with another $12 million led by the Swedish venture capital firm Kinnevik.
In 2020 the company entered the US market and CEO Jakob Joenck has moved to the US to help his team grow the business.
“We now have our sights set on growing our product portfolio, expanding our geographic footprint, and increasing our support of the environment as we go global. Our first stop is the US, starting with Southern California – the epicenter of the plant-based food movement” Jakob Joenck says and continues, “Now, we’re excited to bypass the traditional investment model, and offer our customers, and community, the opportunity to own a part of Simple Feast, and to join us on our journey in using food as a force for good on our planet.”
Existing investors are excited – Daniel Waterhouse, partner in London-based venture capital firm Balderton Capital was one of the first to invest in the company and he is more than satisfied with what the company has achieved so far.
“As we all look for ways to eat more sustainably and the plant-based food industry continues to grow, Simple Feast is uniquely positioned to drive disruption in the market. What sets Simple Feast apart from competitors is its commitment to working with whole foods, world-class chefs and food scientists to continually innovate, resulting in highly nutritious and convenient alternatives. The team is at the forefront of the food revolution and we’re delighted to be one of their supporters,” Daniel Waterhouse says.
Magnus Jakobson, investment director at Kinnevik supports this by stating that “A lot of people want to eat more plant-based, but it’s just too complicated and time consuming to do it yourself. The nearly ready to eat meals from Simple Feast offer a very high convenience value to the consumer.”