Luxury truffle based condiment company.
Business overview
Location | London, United Kingdom |
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Social media | |
Website | truffleguys.co.uk |
Sectors | Food & Beverage Non-Digital Mixed B2B/B2C |
Company number | 12304399 |
Incorporation date | 8 Nov 2019 |
Investment summary
Business highlights
- Over £1M in sales since Jan 22 & 70% av YOY growth*
- Multi Award-Winning SKU’s & Harvey Nichols Listing
- Collabs with Honest Burgers, BrewDog & Le Creuset
- Features in The Times, BBC GoodFood & This Morning
Key features
Pitch
About the Campaign

Back in 2019 we set out to create a condiment brand that focuses on incorporating the magic of truffle into each creation.
Truffle Guys has always been about making truffles more accessible. Our focus is on delivering the luxuriousness of truffles into everyday condiments to bring a touch of indulgence to home cooking – richness, without the price tag.
We are striving to support the everyday foodie to create simple truffle hacks at home with the use of our products - Truffle Lovers Assemble!

Market Opportunity
Truffle Guys are looking to shake up the tired truffle world and aim to disrupt the global sauces & spices market (valued at $200bn+) by making the everyday indulgence of truffle accessible for all.
Our mission is to combine access and affordability with a modern marketing approach that makes us stand out from the crowd.
We have bootstraped the business with no prior investment to date. We believe that with a cash injection, we will be able to take an even bigger slice of the pie.

Traction & Key Accomplishment
• We have achieved over £1million in sales since Jan 2022 with an average of 70% year-on-year growth*.
• Harvey Nichols Retail listing with the plan to launch in other major retailers throughout 2024 and beyond.
• Average Order Value of £40.00 (based on 2023) with an average Customer Acquisition Cost of £27.00 online & £6 from offline events.
• 35,000+ customers and 44,500 Instagram followers with over 2m videos views (cross-platform).
• Multi Award Winning Products and features on The Times, BBC GoodFood and This Morning.
• Presence in major restaurant chain menus, including Honest Burger (helped them sell over 100,000 Truffle Burgers), Brewdog, Yard Sale Pizza, Kanada-Ya, Hache and many more.
*based on unaudited management accounts.

Team
Our core Team:
• Co-Founder - Rikki Constantinou: Extensive sales experience within the food & beverage industry
• Co-Founder - Jordan Jon: Ex-luxury brand marketer
• CFO - Andrew Slater: SME Finance leader
• Events Manager - Connor Parkinson: FMCG Event Professional
• Retail Sales - Rachel Way: Major Retail FMCG consultant
• Advisor - Thierry Philardeau - Ex Nestle
However, our Number 1 Team Member who are the key to our ‘Truffle Takeover’ are our devout growing community of over 35,000 Truffle Lovers.
Business Model

We have four income streams:
1. D2C – Direct to our consumers through our website and Amazon (Over £1M in sales since Jan 2022)
2. Retail – Selective retailers that allow us to deliver on our promise of making truffle accessible.
3. Events – ‘Truffle Tour’ sees members of the Team at multiple foodie-based events allowing consumers to taste and purchase the products - 43 events planned for 2024.
4. Foodservice – Larger formats for the foodservice industry supplying restaurants nationwide.
Use of Funds
With your backing, we can look to accomplish the following:
• Key Hires to help scale business revenues.
• Brand Activations, PR & Marketing to herd even more truffle lovers into our community.
• Working Capital to assist with inventory and general growth costs.
• Product innovation and development creating new products and packaging.
• Increased margin potential through manufacturing volumes.
• Lay the foundations for future International launches in 2025.
Key Information
Material Debt:
The Company has the following outstanding debt:
1. £9,389 small business loan from HSBC at an interest rate of 15.7% per annum. The loan was entered into in 2022 and is currently being repaid through 16 monthly instalments of £587.
2. £10,897 Bounce back loan from HSBC at an interest rate of 2.5%. The loan was entered into in 2021 and is currently being repaid through 32 monthly instalments of £332.
3. £50,000 loan from the Funding Circle at an interest rate of 13.7%. The loan was entered into in 2024 and is currently being repaid through 24 monthly instalments of £2,513.
The funds raised from this investment round will not be used to repay these loans.
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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