Fat Snax Announces the Close of $4.5M Series A Financing
The low-carb, keto-friendly snack brand plans to expand its retail footprint and launch new innovation
BROOKLYN, N.Y., April 27, 2020 /PRNewswire-PRWeb/ -- Fat Snax, the leading low-carb & keto snack brand, announced this week the closing of a $5mm Series A funding led by BFG Partners and BIGR (Boulder Investment Group Reprise) Ventures. The Brooklyn-based brand, which launched their cookies online in March 2017, anticipates significant growth in 2020, fueled by this round of financing.
An initial direct-to-consumer strategy enabled the brand to perfect their recipes and develop a deep understanding of customer needs. In just six months, Fat Snax became the top selling keto cookie brand online, and has since accelerated growth by focusing on retail expansion. The company can now be found nationally in Whole Foods Market, Sprouts, Kroger, and Wegmans, among others, and anticipates being in over 6,000 retail doors by the end of 2020.
The funding, which represents the first outside investment into Fat Snax, will stimulate growth of the brand's retail footprint for current product lines including cookies, brownies, and blondies. It will also support the launch of the brand's newest innovations: Almond Flour Crackers and Mini Cookies. "Leveraging this capital and these key partners allows us to increase distribution and launch new product lines," said Founder Jeffrey Frese. "We are now in a strong position to support the accelerated growth that we've always envisioned."
"We're eager to support Jeff Frese and the Fat Snax team through this period of rapid growth," said BFG Vice President Tyler Morgan. "Fat Snax is already a leader in the low-carb, low-sugar snacking space and we anticipate demand for these products will only continue to accelerate."
"BIGR has been following the keto & low-carb trends closely over the past few years," said Duane Primizich, managing partner at BIGR. "Fat Snax was a perfect fit as they continue building a strong brand that embodies great tasting, low-carb snacking and we've been particularly impressed with the hustle, grit and creativity of the team." Since 2019, Fat Snax has worked closely with Presence Marketing, owned by BIGR managing partner Bill Weiland.
"Our mission has always been to bring delicious, low-carb snacking to the masses, and I'm confident that we're working with the best possible partners to help us do that," added Frese. "Demand for Fat Snax has continued to skyrocket, and this capital will help us launch new flavors and meet retailer and online demand."
About Fat Snax
Fat Snax has been providing low-carb, yet indulgent, snacks and desserts to customers since 2017. The brand began when founder Jeffrey Frese set out to solve his own desire for delicious, nostalgic desserts using clean ingredients minus any grains or added sugar. Today, Fat Snax offers four flavors of their soft-baked cookies, along with Brownie Bites and Blondie Bites. The products can be found at FatSnax.com or at more than 4,000 retail locations nationwide, including Kroger, Sprouts, Whole Foods Market, The Vitamin Shoppe, Wegmans, and H-E-B.
About BFG
Boulder Food Group ("BFG"), based in both Boulder and Los Angeles, is a venture capital fund which seeks to partner with early stage food and beverage consumer product companies. BFG works alongside exceptional entrepreneurs to ensure the business is able to deliver sustainable growth and outperform its competitors. BFG was founded by Tom Spier, a Co-Founder of EVOL Foods (acquired by Boulder Brands) and COO of Bear Naked (acquired by Kellogg's). (http://www.bfgpartners.com)
About BIGR Ventures
Founded by proven industry veterans Carole Buyers, Duane Primozich, and Bill Weiland in December 2015, BIGR Ventures is a growth equity fund providing value-added, strategic partnership and capital to promising early-stage natural and organic product companies. Headquartered in Boulder, CO, and boasting 75+ years of combined natural product experience between its founders, BIGR Ventures leverages unparalleled industry relationships and experience to maximize the potential of promising young companies. (https://bigrventures.com/)
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SOURCE Fat Snax
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