Kravegan Receives First Florida Institutional Capital Investment with Honeycomb Credit!
Kravegan is a vegan restaurant located in Orange Park, Florida that specializes in delicious vegan foods, desserts, and sauces, all made from scratch. They recently launched a Honeycomb campaign, in order to scale up their line of vegan sauces. A portion of this was made possible with a $20,000 investment from the Jacksonville Microfinance Fund, part of the Jessie Ball Dupont Foundation in Honeycomb’s latest institutional capital partnership!
Thanks to partnerships with various foundations across the country that wish to invest in minority-owned businesses, low-to-moderate income communities, and various industries, Honeycomb is able to more effectively support the small business owners who come to us seeking to raise capital for their growth.
This is especially important in communities where the social and financial capital necessary for crowdfunding success might be a little more difficult to attain - which is why a $20,000 boost for a business like Kravegan can be a launching pad for a successful crowdfunding campaign!
Kravegan started in 2019 as a food truck, and rapidly grew into a restaurant in the Orange Park Mall in 2021. Kravegan is raising funds to expand their vegan sauce line and get them into stores such as Whole Foods and Target, and they also have sights set on opening a new brick and mortar location soon. CEO and Founder LaTasha Kaiser says, "Moment of Transparency: I initially was hesitant about crowdfunding in general, as I didn’t want to damage my brand by “begging for donations, however the Honeycomb platform offered a great solution for our followers to invest in a brand they trust and love. That said, investments appeared to be slow-moving, creating a concern that perhaps my fear of “begging for donations” was in fact the perception received by our followers. However after the DuPont Foundation invested in us, along with the other foundations such as Soul Grown Deep and A.L. Mailman, I’m confident I’ve made the right decision. These foundations have truly boosted my confidence."
The DuPont Foundation says, “The DuPont Fund-managed Jacksonville Microfinance Fund (JMF) invested in Honeycomb Credit to promote the platform locally, with a focus on supporting women entrepreneurs and entrepreneurs of color.” As of now, the Jacksonville Microfinance Fund has invested in three Jacksonville campaigns - Kravegan, Cultural Kitchen, and Irie Diner! You can find all live Jacksonville campaigns at https://www.honeycombcredit.com/jacksonville
Creating equitable funding practices for all
With the help of partners like the Jessie Ball Dupont Foundation, Honeycomb is making it more accessible for small business owners of all backgrounds to access fair, fast, and innovative financing to grow. To learn more about Honeycomb Credit crowdfunded small business loans, fill out the form below!