Grand Rapids-based Roast Umber is funding the growth of its product line and expansion of distribution with capital raised from community investors.
Investments are made possible through Regulation Crowdfunding, a new regulation made possible by the JOBS Act, Title III in 2016. Anyone, accredited or not, can invest in Roast Umber with as little as $100 in exchange for a percentage of the business’s revenue, paid out quarterly through the platform.
Roast Umber is a coffee and cacao roasting company specializing in coffee, cacao and related products. Collectively, the team has over 30 years of experience in craft coffee and cacao sourcing, roasting and production. Focused on sustainability, Roast Umber works directly with the farmers and producers in Central America to source their products. Ten percent of each purchase goes toward charity efforts.
As of Tuesday morning, Roast Umber raised over $11,300 from 25 local investors. The company has 42 days to reach its minimum goal of $50,000, otherwise, investors are refunded.
Capital raised will go toward equipment, inventory and product development as Roast Umber expands its product line and distribution.