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Supie opens Snowball Effect capital raise to the public

Contributor:
Fuseworks Media
Fuseworks Media

Grocery alternative Supie is officially opening its Snowball Effect capital raise today to the public, as it looks to raise up to $5-million to support its growth strategy which predominantly focuses on its Auckland expansion.

The raise was open for interest earlier this month and it went off to a flying start. In the first 24 hours alone, over 600 people expressed their interest in investing in Supie.

Supie founder Sarah Balle said the start-up was excited to be raising capital for its latest funding round through Snowball Effect, with investments starting at just $1500 it has opened the door to mum and dad investors.

"We are excited to be raising capital through Snowball Effect which is New Zealand’s leading online private equity investment marketplace." Says Sarah.

"Supie has and always will be for the people, so to have everyday kiwis be able to invest in the supermarket they shop with each week just makes sense. We think the huge interest could be down to growth in the New Zealand online grocery market. Current projections have this retail sector at $5.5 billion by 2025." says Sarah.

The online supermarket continues to disrupt the New Zealand retail grocery market and has gone from strength to strength during its first 12 months of trading. Supie has delivered tens of thousands of orders, and has hit an annualised revenue of $6.5 million. It now has over 23,000 members, with more than 6,000 items now available- including recently added beer, wines and spirits.

During the last seed funding round $2.5 million was raised, showing that Kiwi investors are prepared to back the future of grocery shopping. The funding round was led by Icehouse and supported by Enterprise Angels and included funding by Arc Angels, a fund focused on investment in female entrepreneurship.

For more information on this capital raise head to https://www.snowballeffect.co.nz/offers/supie-mp2oi#overview

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