Your Food Collective gains $1.4m in funding to power expansion plans
Online grocery platform Your Food Collective has received $1.4 million from public and private investors through Equitise, and plans to grow its Sydney and Newcastle-focused service nationwide.
The raise saw 234 investors support the business, including Ksubi co-owner Jackie Vicdor, who invested $100,000, and Tracey Norman, who invested $600,000.
“There is no greater personal opportunity to be happier, live longer and heal our planet than through the food on our plates,” said Your Food Collective.
“This funding is the first step towards helping more people live that reality, and build a company that is leading consumer driven change across our food ecosystem. We all deserve to be able to eat well and do good.”
According to the business, it has almost delivered 50,000 orders to over 10,000 people in the past three years, while also reducing its food waste by half.
Your Food Collective averages a 135 per cent year-on-year growth rate, and has hit 12 per cent market penetration, according to its Equitise campaign.
“Our growth will allow the development of two additional revenue streams – white label products and technology,” the campaign reads.
“These additional streams alongside a growing market presence and product range will help YFC grow into a household name across NSW, and further across Australia.
“We see online grocery shopping as the future of a more efficient and sustainable world, and we are proud to be driving towards that goal.”