“Vegetarian Butcher” hits €2.5 million crowdfunding target for new factory

The meat substitute manufacturing "vegetarian butcher" has raised an astounding 2,5 million euros in just three weeks after the launch of his crowdfunding funding campaign. The campaign was launched to attract funds for the building of a new factory in Breda, with a reported capacity to produce 50 million vegetarian meal components each year. Company founder Jaap Korteweg found the campaign a “resounding success”, reported RTL Z. The crowdfunding action was scheduled to end on December 4, but with this over-whelming success, the target has already been reached. A total of 4,999 bonds with maturity of seven years at 5 percent interest were scoffed up by not only customer and environmental supporters, but also professional investors. Korteweg, who was named best entrepreneur of 2015, said, “It shows how much investors are interested in sustainable development in the field of replacement of traditional meat products.” reported broadcaster NU. The new plant is needed due to the increase in demand coupled with the development of new products and will enable faster mass production. The vegetarian butchers’ products can be found in Albert Heijn, Jumbo and Ekoplaza stores. The company has more than 2,600 outlets and sells its products like meatless meatballs and “hamburgers” in 13 countries.