An online vegan food retailer is preparing to launch a multi-million-pound investment round as it expects a spike in sales throughout January.
Glasgow-based TheVeganKind is looking to bring on its first shareholders as it targets a seven-figure equity fundraise via Seedrs at the end of the month.
The company is also gearing up for a seasonal sales surge after working closely with Veganuary – a non-profit organisation which encourages shoppers to try out the vegan lifestyle for the first month of the year – and has invested in its marketing arm to boost its online presence.
Scott McCulloch, who co-founded the business with his wife Karris, is expecting a particular spike in online traffic this year following high profile vegan launches by chains including Greggs, KFC and the Co-op.
He said: “Every year when Veganuary comes around we have a wave of new people who are interested but the amount of vegan food that restaurant chains have brought out [this year] is off the scale.
“As a business we have to make sure we’re placing adverts on the right key words so we’re soaking up as much traffic as we can.”
He added that online shopping is often appealing to new vegans as it is simpler to search for vegan-only products.
The McCullochs launched TheVeganKind from their living room table in 2013 as a monthly subscription box after struggling to find easily accessible vegan options on the high street.
The retailer has since added its online supermarket arm and gained a broad social media following. Last year it received backing from Funding Circle and quadrupled its warehouse space by relocating to a new site in Maryhill.
The number of people adopting veganism is estimated to have quadrupled between 2014 and 2019.