Online florist Floraly launched an equity crowdfund aimed squarely at growing its position in the almost $1 billion flower gifting space.
Launched on Birchal, the crowdfunding platform recently used by Beer Cartel to grow its business, the company wants to use cash raised to expand its same-day delivery network to new locations, expand its procurement and sourcing team, build new sourcing technologies, and reach new customers to accelerate its growth.
“Our philosophy is simple: care about people, the planet, and the process of growing and delivering fresh flowers,” the business said in its pitch.
“We can change Australia’s almost $1 billion flower gifting industry, reduce waste and deliver a customer experience that is second-to-none. And that’s just here; imagine if we expand overseas.”
The business has seen revenue growth of 862 per cent in the last year, as customers have increasingly turned to online retailers to fulfil their wants.
Floraly said it could be impacted by local competitors also scaling up their operations, or international competitors entering the Australian market, but it believes it has a proven business model.
The campaign is currently taking expressions of interest, and will close in around three weeks.