VennFoods
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https://goparity.com/projects/vennfoods-252

VennFoods

A new way to think about how we buy, and eat our food.
Investment overview
Impact category
Agrifood Systems
Investment type
Loan
Yearly interest
5.65
%
Term
36
months
Risk level
The Risk Rating is the result of our credit risk assessment, which looks at the promoter’s financial strength and the project’s viability. It’s shown from A+ (lowest risk) to D (highest risk) and helps you compare projects and make informed decisions.
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https://goparity.com/projects/vennfoods-252

Description
Impact
Financial viability
Promoter

What will you be financing?

Venn aims to start small and grow from its base in Porto with a goal to eventually help people all over the world cook wiser, and live smarter & healthier lives. They are on a mission to make eating plants more fun, getting access to sustainable food easier, showcasing alternative sources of protein (such as tofu, seitan, and tempeh), and just generally being better folks by treating our planet in a kinder and gentler manner.

The funds raised through this campaign will be used to finance:

  • Refining of Venn’s website to increase the number of delivery days, the number of recipes offered, and the option of buying specific vegan grocery items.
  • An initial investment in a new pricing strategy to incorporate a subscription-based model which will offer customers price breaks in return for a more recurrent revenue stream for the business.
  • A 6-month contract with a digital branding agency, accustomed to working with very early-stage start-ups to hence accelerate growth in the digital space.

Venn already has over 2.500 followers on Instagram and approximately 300 leads via mailing-list. The goal is to leverage the expertise of an agency to increase these numbers, gain new customer acquisition, and improve old customer retention.

As consumer behavior moves towards valuing the convenience aspect of cooking while purchasing from ethically and sustainably companies (as locally as possible), Venn offers Plant-Based Recipes and kits that contain all the required ingredients, pre-portioned, in the exact amounts needed to re-create the recipe, while using sustainable packaging.


What is the impact?

Direct

  • Promotion of quality and healthy nutrition: Venn has sold 563 meal kits, with a high standard for its products’ quality and impact on human health. Furthermore, by bringing instructions and a guidance perspective on its ingredients and recipes, Venn enables the dissemination of information about healthy living and nutrition.

  • Job creation: with the project’s financing for Venn expansion, the company will be able to hire 2 people for full-time positions. 

Indirect

  • Support of ethical and sustainable suppliers: Venn has a vetting process implemented for its supplier’s selection and gives priority to the most environmentally responsible option available. Their selection criteria includes location (national and local suppliers are prioritized), plant-based, organic, or the most sustainable option available, labor practices within the supplier’s organization, and packaging. Currently, Venn works with a core group of 15 to 20 suppliers, almost entirely Portuguese. 

  • Waste reduction: by providing ingredients in the correct proportion for each recipe, Venn contributes to reducing food waste. At the same time, their packaging is kept to a minimum, while prioritizing paper and glass packaging which can be recycled and returned directly to them for re-use. 

  • Awareness for more sustainable habits: by providing practical and ready-to-make 100% plant-based meals, focused on healthy and ethical ingredients, Venn promotes more sustainable habits. 

Impact indicators

CO2 avoided per year
clean energy
2
created by our projects
of sustainable
impacted

Contribution to the Sustainable Development Goals

About the Promoter

About
COMBINED INGREDIENT - LDA

Direct

  • Promotion of quality and healthy nutrition: Venn has sold 563 meal kits, with a high standard for its products’ quality and impact on human health. Furthermore, by bringing instructions and a guidance perspective on its ingredients and recipes, Venn enables the dissemination of information about healthy living and nutrition.

  • Job creation: with the project’s financing for Venn expansion, the company will be able to hire 2 people for full-time positions. 

Indirect

  • Support of ethical and sustainable suppliers: Venn has a vetting process implemented for its supplier’s selection and gives priority to the most environmentally responsible option available. Their selection criteria includes location (national and local suppliers are prioritized), plant-based, organic, or the most sustainable option available, labor practices within the supplier’s organization, and packaging. Currently, Venn works with a core group of 15 to 20 suppliers, almost entirely Portuguese. 

  • Waste reduction: by providing ingredients in the correct proportion for each recipe, Venn contributes to reducing food waste. At the same time, their packaging is kept to a minimum, while prioritizing paper and glass packaging which can be recycled and returned directly to them for re-use. 

  • Awareness for more sustainable habits: by providing practical and ready-to-make 100% plant-based meals, focused on healthy and ethical ingredients, Venn promotes more sustainable habits. 

Promoter website

vennfoods.com

Business Model

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Target

2000000

Maximum

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