VEEN set for its debut crowdfunding round of €1.2 Million

Ylitornio, 12 March 2019: Premium beverage company from Ylitornio, VEEN announces their first round of crowdfunding beginning March 2019 worldwide. Looking at raising 1.2mn Euros in this round, VEEN is offering equity of 6.47%-15.59% through somewhat of a mini IPO. VEEN is taking a modern and unique approach of using www.invesdor.com, a reputable fully regulated online platform based in Helsinki, Finland, to raise funds through private individuals as well as institutional investors.  The crowdfunding round begins on 12th March and will be open to investors around the globe until April 11, 2019.

With the growing demand for 100% natural food and beverage products in environmentally responsible packaging, VEEN has seen unprecedented growth both in Finland through the launch of its Nordic Mixer range and internationally in markets like India and the Middle East. As Hartwall's exclusive supplier for premium drink mixers (Nordic Mixers are sold in over 500 bars, restaurants and Alko retail outlets across Finland), VEEN Waters Finland portfolio strategy is both innovative and design-driven. VEEN Ayurveda range took inspiration from VEEN’s largest export market, India, and is taking the business towards it first step into retail channels.  The business has been valued at €6.5m and is expected to achieve an estimated revenue of €3.2m in this year.

Established in 2007, VEEN today employs 54 people in 6 countries with a robust sales and distribution network in 16 countries and a portfolio of 20 products. In just over a decade, VEEN has carved a niche for itself by building a unique set of global premium accounts in 16 countries within the premium HORECA (hotel, restaurant and catering) channels and is now set to the enter premium retail channels.

Aman Gupta, Managing Director, VEEN acquired controlling stake of the company in 2012 and has since set up the 100% subsidiary in India and acquired a second mineral water source and bottling plant in the Kingdom of Bhutan.  The brand has been developed in multiple markets, of which India has emerged the biggest market of all:   “The past few years have been extremely gratifying and solidifying for VEEN as a brand. Having said that we are confronted with an exponential growth opportunity in the Indian subcontinent and the Middle East and in order to accelerate this growth, we are looking to attract additional investment from investors looking to benefit from the global growth of the brand”

One of those individuals, Siddharth Bindra, Managing Director of the Indian fashion giant, BIBA  has already come on board to be one of the first crowd funding investors. Speaking on his choice of investing in VEEN, Mr Bindra says “The natural food and beverage category in India and globally is changing and growing rapidly.  VEEN has established itself strongly as a premium high quality player within this category.  The brand’s roots from the Arctic Circle of Finnish Lapland, its unique portfolio and imminent entry into retail  gave us confidence in the business model which I believe is highly scalable and allows for a high return on investment.”

The VEEN team plan to grow the business, profitability and its operations in a way that could attract a further round of investment around 2021. Specifically, as Mr. Gupta explains: “In our opinion the combination of the premium Finnish brand, the HORECA/retail focused channel strategy and the route to market to the Indian subcontinent would be a very attractive investment/acquisition for a potential food/beverage player looking to diversify their portfolio and distribution in the future.”

VEEN is offering its shares at a minimum investment of 50 shares at a share price of €8.56 per share which is €428 in order to make the ticket size affordable for smaller investors (individuals) also.  The platform is https://www.invesdor.com/en.

About VEEN:

Established in Finland at the end of 2006, VEEN has found multiple unique spring sources where it produces distinctive bottled water products of individual characteristics in recyclable glass packaging.  The Arctic Wilderness of Finnish Lapland is VEEN’s place of origin and the home of its first spring source where the brand discovered the smoothest water in the world. The brand discovered its second home in 2014, the source of its natural mineral water spring in the Himalayan Kingdom of Bhutan.  Available in 17 countries across Europe, the Middle East and Asia including India and China, the brand portfolio includes its premium spring water and mineral water ranges, the spring water based Nordic Mixer range and the wellness ranges, Ayurveda Water and Ayurveda Super Shot.

Find out more here www.veenwaters.com

PRESS CONTACTS:

Aman Gupta | aman.gupta@veenwaters.com | +49-8158 9071133

Luka Fabris | luka.fabris@veenwaters.com | +358-50 349 5026