Fresh At Heart, raising RM1.15m via Crowdfunding
Focus Malaysia 08 Nov 2018 15:50
Fresh At Heart is looking to raise RM1.15 mil to expand their offline presence across Malaysia. Founded in 2016, the Pontian-based company is raising money through Equity Crowdfunding on the Ata Plus platform.
Set out to streamline the traditional supply chains of fresh food retail, Fresh At Heart was founded in 2016 by Eddie Goh and Joel Chong, who left their careers in e-commerce and finance to return to the industry in which their families have long established themselves. Fresh At Heart couples the freshness of Pontian seafood with the convenience of express online delivery with their online-to-offline sales model. Through Fresh At Heart’s online sales platform, consumers can place orders for a variety of fresh food items for either home delivery or to be picked up in-store from their 16 locations across Malaysia’s major cities. In 2017, the company expanded their product range to include other meats, poultry, and fresh produce. Since launching in 2016, Fresh At Heart has grown its online following to 30,000 and has seen steady growth in sales, hitting RM200,000 in monthly sales this quarter.
“Our key difference from other premium grocers is our flexibility in bringing to market producers of any size, without the traditional limitations of shelf space,” said Eddie Goh, co-founder and CEO of Fresh At Heart. “This translates to more variety and transparency for the customer. Customers also appreciate the convenience of having their purchased groceries delivered to their homes instead of having to drive to a store,” added Eddie.
Fresh At Heart’s innovative model mitigates the familiar issues faced by fresh food retailers: products are perishable; prices are volatile; suppliers are fragmented. These issues arise due to the long supply chain involved between actual producers of fresh produce and the end consumer. While the old system evolved from an environment where information technology and logistics were restrictive, today's development in e-commerce technology and logistics no longer justifies the inefficiencies and opacity in terms of sources and practices that buyers of fresh produce have long endured.
“Consumers in urban areas in Malaysia and ASEAN do not yet have good access and choice in terms of food transparency and food safety,” said Joel Chong, co-founder and COO of Fresh At Heart. “Fresh produce and groceries that are sold through major retail networks in the cities carry little if any information on the sources of the produce. Consumers have no access and clarity on the production, processing, handling and use of preservatives in their groceries,” Joel added.
As Malaysians are picking up on global health trends and becoming more interested in their health and wellness than previous generations, we see this reflected in their spending behaviour with fresh, local, and naturally sourced foods becoming a priority to many Malaysian consumers. The demand for premium and high quality items is following the trajectory of Malaysia’s increasingly urbanised population and expanding middle class.