So Fresh Raises €360,000 Equity Investment with Triple I, Expands Operations to Yaba
Nigeria fastest growing neighborhood market, So FRESH has signed an equity investment deal of €360,000 with Inclusive Impact Investments (Triple-I). The transaction is in tandem with Triple I’s goal to increase social impact in developing countries, ; thus, So Fresh is strategically placed as a recipient of the investment, as a small and medium enterprise in Nigeria.
The investment will allow So Fresh to receive technical support to further pursue its strategic transformation goals, in line with its mission to ensure that healthier food options are available to Nigerian across the country. The investment will increase the supply and delivery options for fresh, safe, nutrient-rich food.
Speaking on the partnership, the CEO of So Fresh, Olagoke Balogun stated that the values of Oxfam’s Triple I which is “Impact First”, aligned with that of So Fresh, “As an organisation we understand that nations thrive and succeed on the backdrop of an energetic and healthy populace. Hence beyond providing easy access to Fresh Healthy Meals, we inspire and motivate citizens to adopt a healthy lifestyle.
We are very excited about this growing partnership. By investing in us, they can continue to chart out a path to meaningful growth and create a brighter future with a large social impact footprint i.e. greater employment, higher income equality and better access to relevant services and products for people living in poverty. On the other hand, So Fresh will grow its business profitably and sustainably, while fulfilling its mission of ‘Inspiring everyone to live fresh and live healthy”.
In line with So Fresh mission- ‘Inspiring people to Live Fresh, Live Healthy’ , the indigenous brand recently opened an outlet in Yaba, a suburb in Lagos Mainland. The new outlet opened on the 27th September 2018 to joyful celebrations and wide acceptance by the people of Yaba, as customers trooped in.
Speaking on the new development, Mr Olagoke said the company is committed to making healthy food accessible and ultimately ensure good health and wellbeing for all Nigerians.
“We seek to bring the SoFresh Healthy life closer to the people by expanding our reach and opening more Outlets across the country. The Yaba Outlet being the Sixth is an evidence of our desire to build a healthy nation”.
While speaking during a media briefing in Lagos, Mrs Juliet Opara, Operation Manager, So Fresh said there is no compromise in quality standard of operation, starting from the point of sourcing to serving consumers. “ we don’t compromise our standard because we deal with health, we provide our consumers fresh smoothies, juices, parfait and other quick on the go healthy meals and snacks. We are moving from traditional way of feeding to healthier one’’.
The company founded in 2010 and formally known as Fruitivegies Limited has created a niche in the market as the only neighborhood market that has gone beyond healthy food to promoting healthy lifestyle by engaging in community programmes across various strata both offline and online.
Currently, the company has approximately 100 employees with 6 outlets in Abuja, Lekki, Yaba, Opebi, Ikoyi and MMA2.
The company has continued to focus on developmental investment through the creation of customer friendly experience, cozy retail outlets, nimble e-commerce capabilities, as well as continuously benchmarking Food Safety Standards with world class standards.