How production company Kriket found the perfect partner to internationalize

To scale their product internationally and build a team, Brussels cricket bar manufacturer Kriket sought help from The Harbour to find a professional and reliable “smart capital” investor.

Challenge:

After a successful crowdfunding campaign, there was clear momentum, but the founders - also brother and sister - had no financial or legal experience to prepare a deal themselves.

Approach:

When Kevin and Aitor came knocking on our door, we started drawing up a realistic financial plan. Based on this, we were able to determine the funding gap for their plans. That turned out to be 550,000 euros.

We reviewed the current capital structure to determine which funding would be most appropriate. From that, we land on 50% (quasi-) capital and 50% bank financing. If we were only opting for capital, the founder duo would have to hand over too many shares. In addition, sufficient (quasi-) capital was needed to keep the chances of success with the remaining bank financing as high as possible.

  • Lean Business Challenge
  • Cash Flow Plan & Financial Model
  • Funding Need & Mix
  • Valuation
  • Pitch & Investor Memorandum
  • Investor Networking & Relations
  • Term sheets & Agreements

Result:

By working intensively together for 3 months, Kriket was able to close an attractive deal with Colruyt Group that, in addition to financial resources, also brings years of experience and the right network to achieve international ambitions.

“We decided to work with The Harbour because they go from A to Z, from challenging the business plan to closing the deal. The Harbour had all the expertise to guide us to the best deal. So we were able to sleep soundly. Thanks to the funding raised, we have gained an enormous amount of credibility and fame for our company. Our team has expanded and can now develop our plans for the next 2 years. A real game changer, crucial for the growth of our company!”

Michiel Van Meervenne
Founder — Kriket

Will you be the next success case?