The Barcelona-based start-up says new funding will enable the brand to consolidate its presence in Spain and France while expediting planned launches in Amsterdam and Copenhagen next year
Jan Barthe, CEO, GoodNews | Photo credit: GoodNews
Spanish coffee start-up GoodNews has launched its first crowdfunding campaign to facilitate outlet growth across Europe.
Founded in Barcelona in 2020, GoodNews’ CrowdCube campaign follows three previous seed and Series A funding rounds, which raised €15m ($16m) and enabled the coffee chain to scale to 30 small-format stores across Spain and France.
With four investment levels available, ranging from €20 ($21) to more than €1,000 ($1,064), GoodNews will use the funding to support its growth plans in Paris and accelerate its expansion to key European cities.
The coffee chain currently operates seven stores in Paris and will open three further sites in the French capital before the end of the year. Additionally, as part of wider plans to double its total store count next year, GoodNews expects to open its first outlets in Amsterdam and Copenhagen in 2024.
GoodNews has set a goal of reaching 100 stores across Europe by the end of 2025, with market entry in Asia Pacific also being explored.
“In the space of three years we have managed to become the leading coffee startup in Europe, and this has only been possible thanks to our community that has fully aligned with our values and the positive vibes we always want to convey. That's why it's so important to us that our community gets involved in the company,” GoodNews CEO Jan Barthe told World Coffee Portal.
“Our mission is for GoodNews to become one of the largest coffee start-ups in the world in the next 10 years, with a dominant presence in major cities across Europe, as well as a presence in key cities across APAC and EMEA,” he added.
In March 2023, GoodNews credited the ‘full traceability’ of its coffee and its work to eradicate child labour within coffee farming as key to attaining B-Corp certification.
The coffee chain expects to break even by the end of 2023 with a turnover of €6m ($6.4m) forecast.