Moyee Coffee has teamed up with the impact investment fund Buceros Capital to accelerate its growth and impact in Ethiopia and closes a total 1,3 mio funding round.. The investment with Moyee is the fund’s very first. For Moyee, the collaboration with Buceros Capital quickly follows on the heals of its successful crowdfunding campaign earlier this summer, where the FairChain coffee brand in collaboration with OnePlanetCrowd and ASN Bank raised €250,000 in just a few hours.
According to Moyee Coffee founder Guido van Staveren, the two initiatives point out a growing trend for creating shared value in emerging markets.
““From day 1, Moyee set out to radically change the way coffee is grown, process and distributed” the owner says. “Our goal is to be a scalable, socially responsible business that creates shared value for everyone, not just for Western shareholders. This is a message that resonates with both consumers and impact investors alike.”, says van Staveren.
According to the founder, the partnership with Buceros Capital allows Moyee to begin constructing a new roasting facility in Addis Ababa, Ethiopia.
“Equally important, however, is that they bring legitimacy to our business model,” he adds. “As co-investors, they firmly believe in compliance with international corporate social responsibility guidelines.”
Buceros Capital was established in 2016 by a group of well-known Dutch investors in close cooperation with the Dutch Ministry of Foreign Affairs and the Minister of Foreign Trade and Investment Cooperation. The fund’s goal is to invest in sustainable businesses and business models that add value to both the Dutch Economy and the local economy. As such the fund will act not only as a (co-) investor, but also as a partner for entrepreneurs with the ambition to expand to Emerging Markets.
“Moyee is the fund’s first investment,” says Ramon Lambert of Buceros Capital. “Moyee’s ambition to combine a sustainable business model with creating social impact, also represents Buceros Capital’s CSR values. We believe we can help them grow further and export their FairChain values to more countries across Europe and in Emerging Markets.”
“Buceros is helping to fund the new facility in Addis and will help us move into the single serve market,” adds Moyee’s Van Staveren. “We will also use the investment to help our Irish team shift into second gear and further expand our reach in the Netherlands.”
Moyee realized a total of 1,3 million Euro’s in equity funding from new and current shareholders in 2017.
Photo: Corne Melissen (left) Guido van Staveren (right)
Buceros Capital is a public-private social impact investment fund. With a focus on investments in SME’s in Emerging Markets, we have an entrepreneurial eye out for investment opportunities. Buceros invest in SME’s that have a positive impact on the local economy in an Emerging Market, while being compliant with International Corporate Social Responsibility guidelines.
Moyee is a specialty coffee roaster and FairChain company. FairChain is a word Moyee coined to define a fairer, more honest way of doing business. It is a new form of social entrepreneurship that relies on creating opportunity for producers in developing countries, rather than relying on development aid. Roasting locally is the driving spirit behind Moyee’s FairChain coffee. Moyee is a 50/50 venture with local Ethiopian entrepreneurs—“a true producing-consuming relationship.” And because Moyee pays twice the Direct Trade rate for quality beans, they have access to the country’s best coffee beans. Hence Moyee’s tagline: radically good coffee. Radically good barista-style coffee with radical social impact.
In addition to its new packaging and coffees, this month Moyee unveils its first every Impact Report 2015, offering a ‘god honest’ overview of the coffee business in Africa and Europe. The company is also taking the first steps towards what it calls a ‘Model Farm’ in Ethiopia that will use sustainable farming techniques developed in collaboration with the University of Ede-Wageningen and the University of Jimma (Ethiopia). This summer Moyee will also open the first of several independent cafes in the city, as well a micro-roaster for hyper-small batches of experimental beans and blends.
For more information about Moyee please contact email@example.com or head to our website at moyeecoffee.com