Healthy snacking startup Well & Truly has bagged £400k in capital from female-focused funding network AllBright, as well as private investors.
The business, launched in 2016 by sisters-in-law Sara and Maria Trechman, plans to use the cash to continue its growth, launch a new brand positioning and extend the range.
Well & Truly makes veggie-friendly low-fat gluten-free snacks, with all-natural ingredients, that are less than 111 calories per 23g serving.
Its tortilla chips, crunchy cheese sticks and sour cream and onion sticks are available in more than 1,600 stores across the UK, including in Tesco, Ocado, Whole Foods Market, Booths and Amazon, as well as independent retailers.
The business said it expected to triple its 2017 revenues this year to more than £1m.
“With Well & Truly we are building a fantastic business around the promise of snacks full of flavour that are also that bit ‘better’ for you but never compromise on the great taste every snacker deserves,” added co-founder Sara Trechman.
“We have big ambitions for the future, and securing this investment is a great validation of our concept, execution of the business plan to date and future potential of Well & Truly.”
It is the seventh brand to join the AllBright network, which is backed by a community of experienced angel investors and high net worth individuals.
AllBright, which started in 2016 as a crowdfunding platform for female entrepreneurs, shifted to become a private members club last year, with a fund for female-founded businesses and an academy to mentor female business leaders.
Debbie Wosskow, AllBright co-founder, said: “As an organisation that aims to make the UK the best place to be a female entrepreneur, AllBright is delighted to invest in the Well & Truly brand.
“We are excited about the ambition that female founders Sara and Maria have for Well and Truly and the opportunity for growing this innovative British brand in a thriving healthy snack market.”