Hard Fizz has received financial backing to meet growing consumer demand and increase brand visibility with a successful capital raise of $2.5 million.
The funding will support Hard Fizz with brand awareness initiatives, such as the recent LIV Golf partnership in which Hard Fizz became the exclusive supplier at the Adelaide LIV Golf event in April.
Led by Tom Paton of Conargo Capital and gaming entrepreneur Laurence Escalante of Lance East Office, the investment will also enable the brand to capitalise on market demand in newly acquired retail channels.
While Hard Fizz is available through independent retailers, the beverage brand recently achieved national retail ranging in Coles Liquor and Endeavour Drinks Group, and the $2.5 million capital raise will support this growth.
Hard Fizz CEO Wade Tiller said: “This investment into Hard Fizz provides an opportunity for us to amplify our brand awareness through unique marketing initiatives, as well as meeting the increasing customer demand for the Hard Fizz products via our new retail channels.
“Furthermore, Tom Paton will bring a wealth of experience in high growth FMCG businesses to the Hard Fizz board and we welcome his and Lance East’s strategic insights and contribution.”
Hard Fizz, which was co-founded by Tiller, international DJ Paul Fisher, social media influencer and podcaster Chloe Fisher, and growth marketing expert Joel Scott, welcomes the support of Paton, who has a background of working with influencer-led brands in the food and beverage industry, and Lance East, which is invested in several FMCG companies including Bae Juice.
Speaking about the deal, Paton said: “Investing in Hard Fizz is an ideal partnership for Conargo Capital given the brand’s aggressive growth profile and bold marketing strategy.
“I see no limitations on the brands ability to grow domestically and abroad, especially with the backing of the brand’s co-founders and the exceptional management team.”
The transaction was the first successful capital raise under the newly established corporate advisory arm of FMCG advisory company Ranged, and gives a positive indication of interest in influencer-led brands.
Ranged Managing Director – Advisory, Joseph Green, anticipates that disruptive FMCG brands are likely to follow suit with capital raises in the year ahead.
“The strong ambassador community and notoriety of the Hard Fizz brand captured investors’ attention despite the current economic climate being particularly challenging for small and medium-sized brands to raise capital in,” he stated.