Premium frozen desserts brand Remeo Gelato has raised fresh capital as it continues to expand in the UK and overseas.
As part of the raise, Remeo appointed Nando’s grocery CEO Georg Gruber as executive chairman of the board, with the round led by Italian VC firm Mega Holding and joined by Spanish entrepreneur Placido Arango.
Remeo said it was a significant round for the company – raising close to a seven-figure sum – and would be followed by a series A round in late 2023 to raise a minimum of £3m to scale the business further.
The funding will be used to grow the team, support continued expansion in the UK, invest in the brand, boost the D2C operations and increase distribution across the domestic market and abroad.
Founded in 2015 by Jacopo Cordero di Vonzo and Filippo Psacaropulo, Remeo makes a range of gelato using natural ingredients and without any artificial additives, as well as sorbets, layered gelato desserts, sorbet sticks and the new bitesize Ecuadorian gelato gems.
Remeo experienced organic compound growth rate in excess of 70% for the past three years and achieved profitability at an operational level in 2021, with retail sales expected to surpass £6m this year.
It has listings with Waitrose, Whole Foods, Ocado, Amazon Fresh and Deliveroo in the UK, Spinneys in the United Arab Emirates and launched in 250 Monoprix stores in France this month.
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