Fresh Prep Secures $21 Million in Series B Funding and Expands into Alberta Market
Vancouver, B.C (Oct 4, 2021) – We are excited to share that Renewal4 portfolio company Fresh Prep has secured $21 million CAD in a Series B financing round that closed in late August. This latest financing, led by Yellow Point Equity Partners and including Renewal Funds and other local investors, will be used to expand Fresh Prep’s continual investment in providing sustainable meal delivery kit solutions to new markets.
Since inception in the Greater Vancouver area in 2015, the company has grown their delivery areas in B.C. to over 20 municipalities, and provided consistently high quality, locally sourced meals and add-on products to their customers. In 2021 the company also launched its Zero Waste kit, a proprietary innovation designed to largely eliminate single-use waste from their meal kits.
With this round of funding, they look to replicate their success in B.C. in the Alberta market, bringing their services to Calgary, Edmonton, and Red Deer as of September 2021. Like their B.C. counterparts, Alberta customers can expect to order meals kits with ingredients that support local growers and businesses. Fresh Prep also looks forward to welcoming 200 more employees to its current team of 350 staff to support marketing, product, and automation development and increase their production capabilities. To learn more about Fresh Prep’s dynamic growth and expansion plans, see them featured in betakit and Intrado.