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Honestly Tasty

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Our mission is to become the market leader for high quality plant-based cheese.

165%
 - 
6 days left
£450,005 target
£746,835 from 417 investors
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Business overview

Location Enfield, United Kingdom
Social media
Website honestlytasty.co.uk/
Sectors Food & Beverage Non-Digital Mixed B2B/B2C
Company number 11728863
Incorporation date 14 Dec 2018
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Investment summary

Type Equity
Valuation (pre-money) £9M
Equity offered 7.67%
Tax relief

EIS

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Business highlights

  • Multi-award winning products, used by Michellin star chefs.
  • Growing market worth over £1.93bn globally
  • Over 11k DTC customers & 75+ B2B customers.
  • State-of-the-art facility ready to support growth to 2024.
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Key features

  • Secondary Market
  • Seedrs nominee min. £11.58 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

Our mission is to create great tasting products in a sector with an infamously bad rep.

Whilst consumers increasingly turn towards flexitarian and plant-based diets in a bid to reduce their environmental impact, plant-based alternatives for milks and meats are tasty and widely available. Unfortunately, that is not the case for cheese, and this is the problem we want to solve...

After recognising this problem when adopting a plant-based diet in 2018, I began experimenting to create a novel production technique by combining starch & hydrocolloid technology with traditional cheese making techniques, with some of our cheeses aged up to 4 weeks. This results in cheeses that can melt but also mature to develop flavours and textures associated with dairy cheese.

The range currently includes an award winning plant-based Veganzola Blue cheese, alongside Camembert (Shamembert), Brie (Bree), and Boursin (Herbi) alternatives.

Monetisation strategy

Our core business is the development, production and sale of plant-based cheese.

Market Opportunity:

The plant based cheese market in the UK was estimated at just over £225m back in 2019, and £1.93 billion pounds globally in 2021, with studies estimating between an 8.1 and 15.5% Compound annual growth rate through to 2027.

Channel Growth:

Our current revenue split (FY 2022) is predominately direct B2B (independent retailers and food services) at ~40% and D2C (online shop and markets) at ~55%. The remaining ~5% is the nurturing of initial wholesale relationships which we plan to grow over the next 12 months and beyond as we look to move into National Wholesaler relationships.

Support by New Product Development:

We're excitedly working towards launching Cheddar, Feta, and Stilton alternatives over the coming months to support our growth over the next 12 months.

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, 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. Seedrs 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 Seedrs, 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 £8,995,448

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Seedrs nominee

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

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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 shareholding type is available and the minimum investment required to select it.

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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.

Learn more here

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.