Natural nut butter producer Pip & Nut has secured a £1m investment from the Greater London Investment Fund (GLIF) through fund manager The FSE Group. This investment marks a significant milestone in Pip & Nut’s journey from a startup to a leading brand in the market.
Pip & Nut was founded in 2013 by Pip Murray, a passionate marathoner, who initially created homemade nut butters for post-race refueling. After gaining traction at a London market, Pip won an opportunity to develop her business proposition by living rent-free for three months. This opportunity paved the way for Pip to transition her nut butter production from a kitchen operation to a commercial business.
In 2014, Pip embarked on a series of activities to establish Pip & Nut as a brand, including securing crowdfunding, finding production partners, and developing the brand. The first Pip & Nut products hit the shelves of Selfridges in 2015, and soon after, they gained nationwide presence in Sainsbury’s.
Throughout this journey, Pip remained committed to creating a business that prioritizes sustainability and natural ingredients. In 2019, Pip & Nut became a certified BCorp, a testament to their dedication to making a positive impact on the environment and society.
The FSE Group, as a Community Interest Company, actively seeks businesses with strong environmental, social, and governance (ESG) credentials. The GLIF shares this objective, supporting high-growth businesses that demonstrate these characteristics and have already secured equity funding for initial growth.
After securing previous funding from venture capitalists and angel investors, Pip & Nut sought a debt finance solution to expand their team and drive further product development. David Booth, Pip & Nut’s investment manager at FSE, recognizes their impressive growth trajectory, with 2022 gross revenues projected to be over £11m.
Pip Murray expressed her enthusiasm for partnering with FSE and GLIF, acknowledging their willingness to understand the business’s growth cycle and support its potential. She emphasized the importance of finding a funding partner that looks beyond numbers and aligns with the company’s growth strategy.
Pip & Nut’s £1m investment from the GLIF, facilitated by The FSE Group, is a testament to their journey from a startup to a leading brand in the market. The funding will enable further growth and help realize Pip & Nut’s expansion and product development plans.
