Pure Green raises $1M through equity crowdfunding

Investors with as little as $100 now own a stake in the fast-casual juice concept.
Photo courtesy of Pure Green

Fast-casual juice concept Pure Green raised $1 million through equity crowdfunding, a relatively new funding option that allows for investments of as little as $100.

One of the five-unit juice and smoothie chain’s missions is to “build healthier communities around the globe,” founder and CEO Ross Franklin said.

“Equity crowdfunding was a better fit for us than institutional capital,” Franklin said. “It’s much more in alignment with our mission. We liked the idea of raising money from the people.”

Equity crowdfunding, which became fully legal in 2016, allows a business to secure capital from unaccredited investors. As with any investment, those who provide capital can stand to profit if the business succeeds.

More than just raising money in the deal, a company stands to build an army of super fans as well.

Seventy to 80% of Pure Green’s investors contributed less than $500 during the 74-day campaign, Franklin said.

“They’ve not only made the investment,” he said. “But they went and ordered our product online. Our online sales went through the roof. They started writing reviews for us … They wanted Pure Green merchandise.”

The chain is launching a 50-item PG Gear line to keep up with demand, he said.

New York City-based Pure Green set its valuation cap at $12 million, four times its 2019 revenue.

The chain is using the $1 million to support existing operations amid the coronavirus pandemic, as well as aiding its franchise growth.

In addition to its New York City locations, Pure Green has one unit in Orlando with several more slated for Florida. It also plans to open units in Chicago, Philadelphia and Boston.


Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.


Exclusive Content


It's time to send 'ghost kitchen' to the graveyard

Tech Check: The catch-all term for delivery restaurants is no longer accurate. Let’s lay it to rest and come up with a new label.


Higher-end consumers may be slowing their spending

The Bottom Line: There is some evidence that higher-income consumers may be cutting back. Or maybe there was just some pent-up demand.


Wonder bets meal kits aren't dead yet

Tech Check: By acquiring the struggling Blue Apron, the restaurant delivery concept believes it can touch more dining occasions. But will it work?


More from our partners