People’s Champion Finalist: Pact Coffee
Has the coffee subscription start-up got what it takes to be People’s Champion? See if it gets your vote…
Start-up name: Pact Coffee
Founder: Stephen Rapoport, 32
Started in: 2012
Based in: London
Business description: Coffee subscription service
Having sold his last start-up to AirBnB, entrepreneur Rapoport’s flexible subscription coffee service is already on the path to big things with its central aim to get the “UK drinking better coffee” by making it “accessible to everyone”. Pact Coffee learns what your taste preferences are and how much coffee you drink and then delivers freshly roasted coffee through your letterbox.
Having initially started the business from his kitchen, Rapoport has come a long way from “sealing bags of beans with a pair of hair straighteners” – in August Pact secured a £2m funding round led by MMC Ventures to put towards driving growth and recruitment of new staff members. Given that the home coffee market is now worth a speculated £1bn, Pact looks to be capitalising upon the potential opportunities.
Ethically minded, Pact works directly with the top 0.1% of coffee farmers across the world, buying coffee at a higher price than the Fairtrade rate, with farmers then shipping their beans or freshly ground coffee within seven days of roasting. The start-up is even beginning to source its own beans, without going through a middle man, and is developing its own ethical coffee sourcing policy.
Key to Pact’s success is its community of coffee-lovers; it already has thousands of members signed up and has active social media accounts of fans sharing their coffee creations.
Why Pact Coffee made our 50:
The coffee market is ripe for the picking and with Pact’s offering both innovative and consciously-minded, its success to date is of little surprise. The personalisation aspect of the business, enabling users to choose their coffee package based on their tastes and brewing methods, also makes it an attractive service.