Amsterdam-based Yummygums, a brand famous for its fruity vitamin gummies, announced on Tuesday that it has raised €1M through a share-funding campaign.
The Amsterdam startup initiated a share-funding campaign last week to raise growth funding, setting a target of €1.3M.
“Share-funding turned out to be the best way for Yummygums to involve their fans and customers even more in the company and they liked it,” the company says in a press release.
Ruben Balian, CEO of Yummygums says, “We often got questions from our community about investing in Yummygums, so we knew there was interest, but we didn’t expect it would go so fast.”
Ruben Balian started his career at ING, where he financed companies.
“Because of my previous experience, share-funding as a form of financing was not so sharply on my radar. Our fans believe in our mission and are delighted to be part of it in this way,” adds Balian.
“The campaign will now run for a few weeks and we would like to welcome all our fans. We have already increased the target amount twice, but that will stop at some point,” explains Ruben Balian.
Fund utilisation
The Dutch startup says it will use the funds to accelerate growth, expand into the UK market and launch new products.
The company’s products are already available throughout the UK, with nationwide distribution in Well Pharmacy pharmacies and Tesco, a prominent supermarket chain.
To enhance their operations, Yummygums appointed Ruben Hijl as Head of Sales (previously Head of Sales at Tony’s Chocolonely) and Tim Wolters as Head of Product (previously Category Manager and Product Developer at Vitaminstore).
Building on the success of Yummygums at Etos, Ruben Hijl will increase the company’s retail presence in the Netherlands and internationally. Tim Wolters, on the other hand, will optimise the product range and introduce five new products this year.
Yummygums: Vitamin Gummy brand
Yummygums is a vitamin startup that is vegan, free of artificial additives, and produced with genuine and superior ingredients.
By offering vitamins in the form of attractive fruity gummies, the company empowers consumers and kids alike to make healthy habits more enjoyable. This empowers them to maintain a healthy lifestyle.
Currently, the company has an extensive range of 11 products aimed at supporting everyone, in whatever phase of life or with whatever health goal, and to show that health and pleasure can go hand in hand.
Read the orginal article: https://siliconcanals.com/news/startups/amsterdams-yummygums-secures-1m/
