A London startup looking to revolutionise the coffee industry wants to raise £1 million and launch overseas

Advertisement

Stephen Rapoport Pact Founder

Pact Coffee

Pact Coffee founder and CEO Stephen Rapoport.

London startup Pact Coffee is hoping to secure an additional £1 million in crowdfunding as it looks to revolutionise how people get their coffee.

Advertisement

Founded in 2012, Pact Coffee delivers freshly roasted coffee by post. The coffee is roast, ground, and shipped all within seven days.

The company already boasts thousands of customers across the UK but in order to scale-up, and take advantage of a "home coffee" market that Pact believes to be worth over £1 billion, it needs to raise more capital. Que Crowdcube.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

The Pact Coffee Crowdcube campaign, which launched on Tuesday, allows customers and the general public to invest in Pact Coffee from just £10. Pact Coffee is hoping to raise over £1 million on the platform in the next 29 days. At the time of writing, it had received £13,040.

The company - based in an old biscuit factory in Bermondsey, South East London - said it would use any investment to expand into at least two other European markets and launch more products.

Advertisement

Rewards for "top investors" include a lifetime of free coffee, expert coffee classes, and limited edition coffees.

"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," said Stephen Rapoport, founder and CEO of Pact Coffee, in a statement.

"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."

Well-known investor Robin Klein has already invested in the company, as has venture capital firm MMC Ventures. To date, Pact Coffee has raised a total of $3.36 million (£2.38 million).

Other London coffee startups such as DripApp are also on the quest for further fundraising as they look to capitalise on the city's love for the drink.

Advertisement

NOW WATCH: This brilliant idea uses the ocean's own currents to clean up garbage