Online CBD marketplace Alphagreen is launching a crowdfunding campaign as it looks to sustain its growth.
The platform – which claims to be the largest in Europe – allows customers to choose from a range of over 150 lifestyle brands.
Would-be investors can buy into Alphagreen via equity crowdfunding platform Seedrs, which enables anyone to pursue a stake in a company.
Alphagreen bosses are looking to build on a period which has seen revenue grow from £23,562 in the second quarter of 2020 to £130k in the first quarter of 2021.
Co-founder and CEO Alexej Pikovsky, said: “The cannabis industry is here to stay. The global market is poised for a significant growth phase and Alphagreen is perfectly positioned to capitalise on the increased use of medicinal cannabis and fundamental changes to the way the cannabis and CBD market will function.”
Retail investors can register their interest from April 20, 2021. Existing investors include Stockholm-based Enexis AB, US cannabis fund West Creek Investments and angel investors, including Igor and Oleg Tikhturov.
Alphagreen has sets itself an ambitious growth forecast of 300% for the remainder of 2021.
The company believes it has benefited from a shift toward online shopping during the Covid-19 pandemic.
Pikovsky added: “We are on track to finish off the year with close to a million pounds in sales and should see a huge jump in 2022 when our content first strategy, together with our e-commerce market place showcasing the very best in health and wellness brand innovation and portfolios, plus massive web traffic that any business would want to be part of really kick in.
“We are uniquely positioned and are excited to work with the best brands globally.”
