Are you a food producer looking for new ways to get your venture off the ground? PrimeStox, an exciting new pioneer in crowdfunding, is reaching out to food entrepreneurs across the South West to help them launch superb new products
‘The South West is a prized quality of its food and the reliability of its producers,’ says co-founder Joseph Cherrez. ‘PrimeStox would like to deepen its connection to this part of the UK and its local people.’
‘What we do is simple,’ says Joseph. ‘We fund food producers by buying their product in advance. We then sell it on to our investors. They hold title to the product as an investment. Then when the producer sells the product they earn some of the profits!
‘The neat thing is that our investors own the product, which gives them more security.’
Joseph set up the company in 2015 after experiencing first-hand how exciting food production can be. His first experience of the food business was in 2010. He built a farm in Sierra Leone, hiring 300 workers to plant 100 hectares of prime crops. Witnessing the difference it made to people’s lives he set out to raise funds for other foodie ventures.
One South West company which has already benefited from PrimeStox’s investment is Devon’s LittlePod, a vanilla extract producer. Money raised helped LittlePod’s own vanilla farmer and forest gardener, Made Setiawan, to plant more vines.
Owner Janet Sawyer says, ‘PrimeStox allows people to invest in something worthwhile, as well as something profitable.’
Joseph is now inviting high quality companies from across the South West to apply for funding: ‘Food producers of Devon, if you would like to take a quantum leap forward in your growth, we may be able to help you,’ he says. ‘Don’t hesitate to get in touch.’