Bristol-based Good Sixty on the hunt for £1.5 million investment to expand nationally and overseas

Good Sixty

Good Sixty,  the Bristol-based startup launched in 2016 which helps independent food retailers and producers sell online, is on the hunt via the Angel Investment Network for further investment to scale up to more than 50 locations across the UK and Europe in 2022/23.

The Good Sixty Marketplace is an integrated digital and logistics platform for independent food retailers, markets and artisan producers. Officially partnered with London’s famous Borough Market, the company enables people to shop more conveniently, ethically and sustainably while protecting and enhancing local communities, offering amazing customer service for both retailers and customers.

Good Sixty has been operating in Bristol and Bath since 2018 and has since expanded into central London, Oxford, south London and Exeter. In the last 12 months, the company has fulfilled more than 125,000 retailer orders for more than 16,000 customers from more than 400 retailers, totalling retail sales of £2.9 million. The company has assembled a highly qualified team of experts with decades of combined experience in the fields of e-commerce, finance, food industry, digital media, management, business and marketing. With the recent addition of a subscription and national postal service from Borough Market, Good Sixty has identified a strong pipeline of locations and retail partners and is forecasting a run rate of £5 million Gross Merchandise Volume (GMV) by April 2022.

(Gross Merchandise Volume is a term used in online retailing to indicate a total sales monetary-value for merchandise sold through a particular marketplace over a certain time frame. GMV includes any fees or other deductions which a seller might calculate separately).

Good Sixty is now seeking £1.5 million (with £700k already committed) of EIS funding, with a pre-money valuation of £4.2 million in this round to capitalise on 2020/21 growth, by rolling out the service in Leeds, Cardiff, Edinburgh and overseas, into Copenhagen in Denmark, Oslo in Norway and Malmo in Swindon in the next six months. The company aims to expand its operations in more than 50 locations across the UK and Europe in the next 24 months. By the end of March 2023, Good Sixty aims to increase its revenues to £10.7 million.

Good Sixty was launched by Chris Edwards. He said: “Our vision is to enable independent food retailers and producers to thrive online. We showcase their brilliant businesses and help sell their fantastic produce fairly, in a local community marketplace.”