New funds drive for tea entrepreneur
A herbal tea firm founded by a young Poulton entrepreneur is on the fund-raising trail once more to back global expansion.
Adam Soliman who founded Charbrew in 2009 from his parents’ home, has launched a second crowdfunding drive following a successful effort in 2014.
Crowdfunding is an exciting way to involve customers and fans who believe in our products and brand to join the Charbrew journey
Adam, whose company now operates from Manchester, is aiming to raise £230,000.
Last year the company, which offers a range of healthy ready-to- drink ice teas and healthy fruit teas. turned over £200,000 and established subsidiaries in the US and Australia.
Now Adam said they were looking for people to invest in the next stage of their journey to become the biggest and healthiest natural ice tea brand.
The former Hodgson High School pupil said the global ready to drink tea market was estimated to be $53bn in 2015.
He said, so far, Charbrew had raised £84,390 from just over 100 Investors.
He said: “Crowdfunding is an exciting way to involve customers and fans who believe in our products and brand to join the Charbrew journey.
“We are proactively growing the brand internationally with our two new subsidiaries in Australia and the US run by local directors.
“Due to the recent surge in investors and interest from across the world, we’re excited to announce that we’re extending our crowdfunding deadline until June 1.”
Today, Charbrew supplies major retailers including the likes of Holland and Barrett and Spar as well as into offices Apple, Rothschild, Royal Bank Of Canada, TFL, Cisco Systems, BUPA and This Is Global.
Charbrew can be found in over 1,000 stores across the UK.
In 2014 it successfully used Seedrs to raise £150,000 to fund expansion plans and at the same time won a ctontract to supply entry level fruit teas with upmarket upermarket Waitrose.
Now it is aiming to raise £230,000 investment over the 30 day campaign in return for 11.92 per cent equity.
The company is also EIS approved meaning investors are eligible for income tax savings.