Pact Coffee, a London-based subscription coffee startup, has today announced a £2 million Series A funding round, led by MMC Ventures. This funding round sees MMC join existing investors Connect Ventures, as well as angel investors Ian Hogarth (founder of Songkick), Robin Klein (Index Ventures) and Rowan Gormley (founder of Naked Wines).
Founded in 2012 by Stephen Rapoport, Pact Coffee delivers freshly roasted coffee from around the world to their community, with the aim of getting the UK drinking better coffee. The Pact team is already 32 people strong but this latest funding round will see a further push around talent, as the young company looks to double the eight-person product team.
Stephen Rapoport, founder of Pact Coffee, said of the funding: “I’m delighted to be announcing our Series A funding and am very proud of the calibre of investors who share in our vision of building friendships through flavour, technology and craft. The investment will be used to accelerate already exceptional growth, as well as growing our team from 30 to 50 in the UK.”
He added: “This model is not as simple as it looks from the outside; the frictionless customer experience has taken 18 months’ hard work and we are still just 5% of the way there. Pact’s success is dependant on maintaining the world-class quality of our team, and the strength of our board and advisors.”