Tesco launches crowdfunding platform
Tesco has launched a new crowdfunding platform designed to support small businesses in the food and drink industry.
The supermarket launched its BackIt platform earlier this week with four companies featuring:
1) Alcoholic prosecco mixer brand Drunken Berries, based in Hertfordshire are hoping to secure £2,000
2) Tg Green Teas, also based in Hertfordshire are hoping to secure £5,000
3) Cheltenham-based Sibling Distillery is pitching for £30,000 for the expansion of its gin distillery
4) Gluten-free bakery B-Tempted in London is targeting £5,000
Tesco said the platform would give businesses the chance to "tell their story, show off their products and campaign for funding".
It is targeted at start-ups and small suppliers from the food and drink industry. In addition to investment, successful businesses will receive advice and mentoring from industry experts.