Re:Nourish has secured £250,000 of growth funding to support the continued rapid expansion of its takeaway soup business.
Challenger Brands will utilize expansion financing from the Enterprise M3 Local Enterprise Partnership (LEP) to strengthen manufacturing capabilities and support sales and marketing efforts.
Re:Nourish has become one of the fastest growing brands in the fresh soup category since founder Nicci Clark launched the brand in 2019.
The company's patented microwaveable bottled soups are featured nationally in Sainsbury's, Waitrose, Co-op, Ocado and Amazon.
The pandemic helped boost the company's momentum as demand for chilled soups continues to grow in 2023 as consumers turn to healthier immunity-boosting options. Sales of Re:Nourish soared 50% last year, according to The Grocer's annual Top Products Survey.
The Guildford-based company has agreed to finance from the Enterprise M3 funding escalator, managed by venture capital firm The FSE Group.
The £10 million initiative will provide eligible businesses with loan and equity funding of between £50,000 and £500,000 to support high growth and job opportunities across the Hampshire and Surrey region.
“The team at FSE has been very supportive and made this a very easy process so that Re:Nourish can continue to grow successfully,” Clark said.
“As a female founder, I have struggled to get similar support from our bank despite a solid and thriving business that is making a difference to the health of the country.”
Cheryl Weeks, Head of East and South East Funds at FSE, added: The food sector has been focused on convenience for some time, and Re:Nourish has embraced this and added health, deliciousness, and affordability to its products.
“It's exciting to see Nicci and her team occupy even greater space in this space, making the company stronger and stronger while leading the way with advanced consumer-driven products.”
Re:Nourish is relaunching its seasonal gazpacho SKU in Sainsbury's this week, followed by Waitrose later this month and Ocado in May. Available for just six months each year, +Refresh is made using only the freshest ingredients, and the company claims it's the “most authentic gazpacho on the market.”
