Germany-based reusable packaging company Vytal has launched a crowd-investing campaign to expedite its growth in Germany and across Europe.
The company launched the campaign through its sustainable investment platform, WIWIN.
Vytal will use the proceeds from the investment to develop a digital reusable packaging network for takeaway food and beverages.
Based in Cologne, the company provides reusable packaging to more than 3,500 customers and has a presence in other European countries.
The campaign is intended for Vytal’s existing users and other private investors who are focused on a ‘return on investment with a real environmental impact’.
The company currently has more than 330,000 users. In 2020, German company Social Chain acquired a 12.5% stake in Vytal.
In a statement, Social Chain said: “Vytal enables all interested parties to support the project with a five-year investment of between €250 and €25,000.
“In addition to a 7% fixed interest rate per annum and a potential bonus interest of a further maximum 7%, the focus is on contributing to a waste-free future.”
Vytal enables its Gastronomic partners to pay a fixed amount for each use of its containers.
Users can borrow an unlimited number of containers without charge for 14 days by providing payment options such as PayPal or credit cards for security purposes.
While borrowing Vytal’s reusable containers free of charge, users can also track the numbers of disposable containers they have already saved at restaurants and in each city through the company’s mobile app.
The Vytal community is claimed to have replaced more than 4.8 million disposable containers since the company was founded.
The crowd-investing campaign was launched ahead of the introduction of mandatory reusable packaging in Germany.
From 1 January 2023, food services in Germany will be required to offer takeaway and delivered meals in reusable packaging.
Other European countries are also expected to follow suit.