Eat My Lunch to launch second crowdfunding campaign on new PledgeMe platform
Social enterprise Eat My Lunch will be the first campaign on crowdfunding website PledgeMe's new lending platform, PledgeMe.Lend.
Eat My Lunch launched last year to address the issue of child poverty through a buy one give one model, where for every lunch ordered one lunch would also be given to a Kiwi kid in need.
In that time, it has provided more than 150,000 lunches for children in low-decile schools and now needs more money to fund growth and reach children in more regions.
Eat My Lunch chief executive Lisa King said it was exciting to be the first campaign on PledgeMe.Lend.
Co-founder of PledgeMe Anna Guenther said PledgeMe.Lend's format allowed established companies and organisations to borrow money from their own crowds at a potentially better interest rate.
On the other side, lenders would potentially be able to receive higher returns as well.
"PledgeMe.Lend is for organisations who are interested in raising larger amounts of capital, have a demonstrated ability to repay its lenders, and who can't or don't want to sell shares," Guenther said.
She said Eat My Lunch has shown they could do things differently and this made them a perfect fit for the new platform.
Last year Eat My Lunch ran its first crowdfunding campaign, which became the largest one in New Zealand, with more than 2500 pledgers raising almost $130,000.
The money helped Eat My Lunch move from a home kitchen into a commercial kitchen.
Eat My Lunch's campaign is due to go live in June.