Julian Hearn, co-founder of Huel. Photo credit: Huel
Powdered food containing a balance of protein, carbs, fibre and fats might not seem that appetising to some. However, it’s definitely Highland Europe’s cup of tea considering the growth equity investor has just invested in one of the fastest growing companies in the UK that’s based on the meal replacement idea.
Huel, the diet startup, may have only been launched in 2015 but it’s already achieved an impressive first funding round by raising £20m from Highland Europe. And the investor’s vote of confidence means more than just a healthy injection of capital as it has previously backed businesses such as MatchesFashion, GetYourGuide and WeTransfer. Having been launched after the co-founder Julian Hearn noticed the growth of the fitness and meal-replacement industry, the company has bootstrapped its growth up until now. Huel will use the investment to beef up its international expansion plans as well as the development and launch of new products.
Commenting on the investment, Hearn said: “We’re excited that Highland Europe shares our vision and is now giving us the means and a wealth of experience to scale Huel into a global leader. These developments present a really exciting time for Huel and the ‘complete food’ category in general.”
And Stan Laurent, partner at Highland Europe, is making no secret as to why the firm believed in Huel. “We knew that Julian and his team had created a special brand before even meeting them: people around us were raving about Huel,” he said. “It’s a textbook example of the next generation of ecommerce businesses: a big mission and brand, innovative products and a superb business model. We’re looking forward to helping Julian and his team scale the business across the globe.”
One thing is for sure, this will definitely not be the last time you hear about Huel’s protein powder power.