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Hunter & Gather

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A real food and supplements brand, that provides you the tools to thrive not just survive.

240%
 - 
Funded 2 Nov 2022
£500,001 target
£1,203,786 from 322 investors
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Business overview

Location London, United Kingdom
Social media
Website hunterandgatherfoods.com
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10469907
Incorporation date 9 Nov 2017
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Investment summary

Type Equity
Valuation (pre-money) £8.1M
Equity offered 12.95%
Tax relief

EIS

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Business highlights

  • 100,000+ Customers via Amazon and D2C & 50,000+ Social Followers
  • £7.5M Rev to date and £1M+ additional growth LY
  • 10 Great Taste Awards & Industry award winners (incl. Forbes)
  • 98% recommendation score and 7,500+ verified reviews
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Key features

  • Secondary Market
  • Nominee investment min. £12.46 +
  • Direct investment min. £100,000.00 +

Idea

Introduction

Hunter & Gather is a multi-award-winning, cross category, real food & supplements brand that provide our tribe the tools they need to thrive.

As a nation, we’ve moved away from nutrient rich diets in favour of cheap and artificially preserved foods. Chronic illness rates and obesity are at an all-time high and millions are living with or at increased risk of Type 2 diabetes.

It's our mission to revolutionise the food industry by creating real food essentials and everyday supplements that put your health first.

We hunt high and low to gather only the highest quality, real food ingredients (see what we did there) and this means our tribe of loyal shoppers trust in us to create healthy products that also don’t compromise on taste (our 10 Great Taste Awards back this up).

We never use unnecessary binders, fillers, artificial preservatives, cheap inflammatory oils, refined sugars or grains, opting for ancestrally inspired real food ingredients instead (the way food should be made).

Substantial accomplishments to date

· Achieved over £7.5M revenue to date with over £1M in growth last year

· Delivered products to 100,000+ UK households via D2C & Amazon

· Won listings with key retailers: Ocado, Booths, Holland & Barrett, Whole Foods Market, Selfridges, Planet Organic, Daylesford and Independent stockists.

· Over 6000+ repeat product subscribers across D2C & Amazon

· Social media following of over 50,000+

· 10 Great Taste Awards (making us a Great Taste Producer)

· Ocado 2021 Rising Star Award Winner

· Number 1 Ocado Challenger Mayo Brand and 3rd Largest Mayo Brand (after Hellmann's & Heinz)

· Founders named on Forbes 30 under 30 Alumni Winners

· We have been spotted in Victoria Beckhams Pantry!

· Food Matters Live and Nourish Industry Award winners

· International expansion with a 3rd party warehouse operating in EU as of May 2022

· Launched exciting innovation to bring us up to 34+ Skus!

· Amazing customer feedback from over 7500+ verified reviews !

Monetisation strategy

Hunter & Gather has achieved amazing growth to date with our tribe at the heart of all that we do. We are continuing with our omnichannel approach, so that wherever a health conscious consumer shops (online or in store), we want to be available.

We will continue to drive growth via D2C and Amazon, utilising these platforms to explore additional territories such as Germany, France, Spain and Italy. A strong social media advertising strategy and UK website (launched recently in 2022) is already providing an increase in shoppers geared towards subscription. We aim to continue to improve this and invest behind the growth.

Retail is also key for our omnichannel strategy. We recently launched in over 300 Holland and Barrett stores Nationwide (Sept 2022), we will be continuing to increase our presence across the UK in physical retail, with a focus on grocery and speciality health stores throughout 2023.

Use of proceeds

Proceeds will be used for growth capital in 5 key areas:

1) Key Hires - To bring in top level talent primed for growth.

2) New Product Development - bringing innovation to market to continue to be a cross-category innovator

3) Launch & Grow key retail channels in the UK & EU with an omnichannel approach.

4) Brand Marketing Charge - Content overhaul, Social Media Advertising upgrades & brand collaborations to drive retail and D2C sales growth

5) Finalise our BCORP status (Currently pending with a 95.2 score!)

Key Information

Lead Investment

Please note that the lead investor, Black International Investments Limited (“Black”), will receive narrow-based weighted average anti-dilution rights (i.e the right to be issued additional shares at nominal value in the event of a downround).

Seedrs investors will not have these rights due to EIS eligibility.

In addition, Black has agreed to:
i. the purchase of 62,434 issued ordinary shares at a share price of £5.61 per share by way of a secondary transaction; and

ii. the future payment of £250,000 for 40,136 ordinary shares at the share price of the round. These shares will be issued to Black now at nominal value and Black will be obliged to pay the outstanding premium on these shares (£250,000) upon the Company hitting certain performance targets during FY2023-24. If the targets are not met, Black will have the right, but not the obligation, to pay the outstanding premium to the Company, otherwise the shares will be forfeited. Until the premium is fully paid on these shares, the shares shall have no voting, liquidation, participation or dividend rights.

Material Debt

The company has the following outstanding debt:
i. £370,504.01 loan from Amazon Lending at an interest rate of 12.99% per annum. The loan is to be repaid on 31st August 2023;

ii. £163,000.00 loan from the Coronavirus Business Interruption Loan Scheme at an interest rate of 6.85% per annum. The loan is to be repaid on 26th May 2026. There is currently £151,962.68 remaining on the loan;

iii. £50,000.00 loan from Bounce Back Loan Scheme at an interest rate of 2.5% per annum. The loan is to be repaid on 4th May 2027. There is currently £36,666.72 remaining on the loan;

iv. £79,000.00 revenue share facility from PayPal Working Capital at a fixed fee of £4,462.00. The loan is to be repaid via a 30% revenue share of all sales via PayPal and is projected to be repaid by May 2023. There is currently £65,907.00 remaining on the facility;

v. £88,000.00 revenue share facility from Shopify Capital at a fixed fee of £7,040.00. The loan is to be repaid via a 17% revenue share of all sales via Shopify and is projected to be repaid by December 2022. There is currently £44,686.99 remaining on the facility;

vi. £140,000.00 revenue share facility from Clearco at a fixed fee of £8,400. The loan is to be repaid via a 12% revenue share of all sales via Shopify and is projected to be repaid by December 2022. There is currently £20,352.00 remaining on the facility;

The funds raised from this investment round will not be used to repay these loans.

Valuation

The pre-money valuation for Hunter & Gather has been calculated on a fully diluted basis, including all existing rights to equity that may convert and dilute investors in the future. In this case, the valuation reflects (i) issued shares and (ii) issued options.

Please note that the pre-money valuation of the business when taking into account only issued share capital is £8M.

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Hunter & Gather has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 7 October 2022 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £8,090,110

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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