Orapesce, a digital platform for the purchase and home delivery of fresh fish, has raised $706,000 (€600,000) from ALIcrowd, the first venture capital Eltif that also uses crowdfunding to search for companies to be invested in, launched by Azimut Investments SA and managed under delegation by Azimut Libera Impresa sgr.
Azimut’s Eltif investment in Orapesce took place as part of the company’s second equity crowdfunding campaign on Mamacrowd, which is still in progress. The campaign, a few days after its opening, has already exceeded the minimum collection target $706,000 (€600,000), collecting $925,600 (€786,000). The company, with a pre-money valuation of $7 million (€6 million), is now aiming to raise with equity crowdfunding a maximum of $1.77 million (€1.5 million)
Orapesce had launched another equity crowdfunding campaign on Mamacrowd in June 2020, which ended up raising $471,000 (€400,000), also beating the maximum target of $294,000 (€250,000). The startup had previously collected $137,700 (€117,000) from investors in two rounds: one in December 2018 $41,200 (€35,000) and the other $96,600 (€82,000) in September 2019.
Orapesce was launched in March 2018 by Giacomo Bedetti and Alberto Mazza, along with an executive MBA class from MIP Politecnico di Milano, with whom he designed the company’s business model. Bedetti has 20 years of experience as a consultant at Accenture, head of organization and cost management at Unicredit Credit Management, head of SVP Service Management at doValue, and now head of Master Servicing at Italfondiario. Mazza, a graduate of the Milan Polytechnic, has experience in the field of strategy and creative direction, as well as in consulting in the field of digital development and visual communication.
Orapesce allows people to buy fresh fish online already cleaned and receive it at home throughout Italy, 3 days a week. The company closed 2020 with a turnover of over $765,500 (€650,000), more than 4,500 customers (and almost 13,000 deliveries), more than 20,000 followers on the main social media, and traffic on its e-commerce up to 90,000 monthly sessions. Driven by a highly attractive market, it aims to reach a turnover exceeding $1.18 million (€1 million) in 2021 and $10.6 million (€9 million) in 2023.
The funds raised through equity crowdfunding will be used for the launch of the “ready to eat” line and the acquisition of new customers; for the construction of a new e-commerce platform and the activation of a warehouse management platform integrated with e-commerce; the strengthening of internal digital skills; finally, the creation of a production team for the direct packaging of fish and the optimization and strengthening of logistics in target cities.
Eltif ALICrowd, launched last March, has a duration of 8 years and an endowment of $29.4 million (€25 million)
The vehicle can support companies in crowdfunding with an average investment of $590,000 (€500,000) on each selected company and can be subscribed through Azimut’s network of 1,800 financial advisors. The minimum investment threshold is $18,000 (€10,000). Eltif enjoys the tax benefits available to investments in start-ups and innovative SMEs (up to 50% tax deduction), in addition to all the benefits reserved for alternative Pir.
The partnership between Azimut and SiamoSoci (manager of the Mamacrowd portal and 25% owned by the Azimut Group itself), provides that ALIcrowd will use the crowdfunding portal to search for companies to be invested in thanks to the campaign (call for action) for startups and innovative SMEs “Mama Fund & Crowd”. Last June Eltif co-invested one million euros in the equity crowdfunding campaign on Mamacrowd of the Italian footwear startup Fessura, which is still ongoing.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Why Plant-Based Meat Could be the Future of the Food Market
Despite this incredible development and potential, vegetable meat is not the only alternative coming into play in this new era....
Uruguay Incorporates Cannabis Clinic into the Health System
Since its legalization in 2013, cannabis has aroused the interest of many Uruguayans, especially those of legal age, because it...
Bitcoin’s Price Forecast: Novogratz Recommends Buying on Price Decline
Although Bitcoin remains in an uptrend, some experts believe that now is not the time to follow Michael Novogratz's suggestion...
Rich Countries Have Only Donated 13% of the Vaccines Pledged
As for Pfizer-BioNTech, AI claims that it has supplied Sweden (10 million inhabitants), nine times more vaccines than all low-income...
Allianz Morocco Enters the Capital of EMOB
Allianz Morocco has become a 33% shareholder in EMOB's capital. The company is positioned on the electric and eco-responsible mobility...
Biotech2 weeks ago
iDoctus, Accelerating Digital Health to Grow 50% by 2021
Cannabis2 weeks ago
Recreational Cannabis in Argentina, an Unavoidable Debate for the Congress in the Making
Featured2 weeks ago
The Fintech Ecosystem in Latin America is Strongly Developing: Finnovista
Crypto2 weeks ago
What Caused the Sudden Crash of the Price of Bitcoin