Frozen yogurt firm Lick is edging closer to the £200,000 crowdfunding target that values the company at £2.4 million.
The money will enable the business to employ more staff, increase its marketing budget and start exporting its products.
More than 200 people have invested £135,000 in sums ranging from under £100 to £30,000 since the call for capital went live on the Crowdcube crowdfunding website last month.
Lick’s founders, Ky Wright and Owain Williams, both 32, will find out whether they have hit their target when the fundraising deadline passes in a week’s time.
Lick’s pitch on Crowdcube said: “Lick’s founders, Ky and Owain, started making and selling frozen yogurt together at school and now run an award-winning, nationally stocked frozen yogurt brand.
“Lick tubs are available in Sainsbury’s, Waitrose, Ocado, Yo! Sushi, Budgens and Wholefoods among many other places all over the UK.
“They operate within the fastest-growing category in a market worth over £1.1 billion and plan to begin exporting their frozen yogurt this year.”
The success of the wholesale business prompted Lick to shut its shop in Gardner Street, Brighton. The founders opened the shop in 2008 and closed it in 2013 so that they could focus on supplying other shops.
The crowdfunding is expected to underpin the next phase of Lick’s expansion. Mr Williams said: “It’s partly to take on new staff and to provide working capital and also to increase our marketing spend slightly.
“We’ve done a great job with the funds we’ve had but we want to get out there more.
“We also want to begin exporting our soft-serve frozen yogurt. We’re launching a new version.
“It’s easy to move around. It’s easy to store. It’s easy to serve and it’s particularly suited to the export market.”
Lick used to make its frozen yogurt in Brighton. It still has its base in the town, in New England House, but production has been entrusted to a dairy in Devon.
To become an investor in Lick, click here.
