We’re excited to share the news that Farmdrop has today closed a £10 million Series B investment, at roughly five times the share price of the 2014 Crowdcube round, in which the company raised just under £750k from 352 investors.
FarmDrop is an award-winning ethical online marketplace working with local producers to fix the food chain. By cutting out middlemen, producers receive a much more generous price than supermarkets would offer, and customers receive farm-fresh produce to their door.
Ben Pugh of Farmdrop said, “this latest investment will enable Farmdrop to go even further in making a positive impact on the lives of our customers, farmers, and staff.
I’m delighted that we have a new investor on board this time, Impact Ventures UK, who has a phenomenal track record in helping socially responsible businesses maximise their potential. Impact Ventures will help us go further than ever before in tracking the positive impact Farmdrop has across the supply chain - from widening access to healthy food, to improving the environment, and supporting great jobs.”
Launched in 2012, Impact Ventures’ UK was established by two reputable institutions in banking and investment. They are a diverse group of professionals with experience that includes social impact investing, philanthropy, banking, investment, and business.