The Green Coffee Company lands $25M in Series C funding to revolutionize the Colombian coffee industry

The Green Coffee Company lands $25M in Series C funding to revolutionize the Colombian coffee industry

Time Stamp: June 9, 2023 9:26 AM
Source Node: 2711022

It’s been an exciting journey since our last update on Green Coffee Company (GCC), a Legacy Group portfolio company and the leading coffee producer in Colombia. In 2022, the company made a splash after it secured an impressive $100 million in Series C funding, signaling its commitment to revolutionizing the Colombian coffee industry.

Since then, the FoodTech startup has been tirelessly working to elevate the coffee experience and maintain its position at the forefront of innovation in the industry.

On Thursday, The Green Coffee Company announced it has secured a $25 million Series C equity funding round to continue to reshape the landscape of coffee production in Colombia. The company will use the funding proceeds to expand its Colombian farming operations, as it looks to become the world’s largest producer of arabica coffee.

In addition, the startup will also use the fresh capital injection to “accelerate its U.S.-based coffee roasting operations and to enable the company to launch lines of liquors and spirits distilled from coffee cherries and other coffee ‘waste.’”

However, it appears the latest tranche of money is not enough as the company said it’s still seeking to raise an additional $65 million from institutional investors in the form of debt capital to supplement the equity raise in order to execute its expansion plans.

Since its inception five years ago, The Green Coffee Company has raised over $60 million in financing from an impressive group of investors. With more than 450 individual accredited and high-net-worth individuals primarily from the U.S., their funding has come from a wide array of supporters.

This growing trend of direct investments from “mass affluent” or high-net-worth individuals underscores the strong belief and interest in Legacy Group’s potential within the market. The company’s ability to attract substantial funding from discerning investors showcases the confidence in its vision and the promising opportunities they offer in emerging markets.

Commenting on the funding, Kevan Zipin, an investor since 2018, said of the company, “Being a part of this raise is phenomenal. What Cole, Adam, and the whole team are bringing to the world of coffee is incredibly compelling and unique. With their constant communication and insight, every new step has me feeling like I am a part of the developmental process.”

Founded in 2017, The Green Coffee Company is a Legacy Group portfolio company and a Colombian coffee producer with 956 hectares across 11 farms. Unlike big coffee giants like Starbucks, GCC fosters relationships between farmers and roasters in order to bridge the gap between producers and consumers.

The company is a consolidated coffee farming operation headquartered in the U.S. with operations based in Medellin, Colombia. The company’s innovative business model allows for complete control of the supply chain: from cultivation, through processing, to direct trade with end clients.

Since its inception in 2017, The Green Coffee Company has experienced remarkable growth and currently boasts an impressive land portfolio exceeding 9,000 acres. In addition, the company also owns and cultivates over 11,500,000 coffee trees, making them more than double the size of any other coffee producer in the country.

With ambition to becoming the world’s leading producer of arabica coffee within the next two years, GCC has set its sights on a potential U.S. IPO exit in 2026. This ambitious plan demonstrates the company’s determination to expand its presence on the global stage and solidify its position as a key player in the coffee industry.

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