Vegan subscription box provider raises £3.5m to fund progression

A vegan subscription box company has announced that it has raised £3.5m in a Series A funding round.

TheVeganKind, based in London, has secured the funding from Literacy Capital, supported by PwC.

As part of the £3.5m investment, additional retail and consumer experience will be added to the business in the short term.

Scott McCulloch, CEO and co-founder of TheVeganKind, commented: “We are so proud to announce this monumental day in our history. In Literacy Capital we have found incredible partners and a value-aligned fund which operates with an added charitable mission.

“Thank you so much to the team at PwC for helping facilitate this deal and guiding us through the process.

“Their support and expertise has been invaluable, along with that of our FD Kate Inshaw who has been an exceptional asset to TheVeganKind since joining, particularly during this fundraise.”

Glen Waters, Head of PwC Raise | Ventures, said: “It has been a pleasure to work with TheVeganKind led by Scott and Karris on this deal.

“TheVeganKind’s growth story is exceptional given they were bootstrapped up until March 2020 and as a team have continued to demonstrate how capable they are, as they look to take the business to that next level.

“We look forward to watching them scale and view Literacy Capital as a fantastic and experienced growth partner to help them achieve their ambitions.”

Richard Pindar, CIO of Literacy Capital, added: “We are really pleased and excited to have the opportunity to work with Scott, Karris and the rest of the TVK team.

“The tailwinds in the sector, as well as the health, welfare and environmental benefits that TVK is providing are really encouraging.

“The aims and objectives of the founders resonate really well with our own charitable and business objectives. We look forward to assisting the team and helping them to expand TVK even further.”

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