BeHappy Investments, a Spanish capital firm, has made a €1,300,000 investment split into two groups: HarBest Market and Huntycontinuing, with the aim of promoting long-term initiatives that benefit the primary sector and enhance employment opportunities in empty Spain.
BeHappy Investments has contributed €1,000,000 -in a joint venture with José Lus Nieto's R-foodlution vehicle - to the Madrid platform HarBest Market, a B2B marketplace that allows restaurants to purchase goods directly from producers more competitively by eliminating intermediaries; and €288,000 to the La Rioja startup Hunty, a platform for searching, comparing, and hiring the finest hunting experiences, both nationally and internationally.
Both investments have been made using convertible notes, also known as convertible loans, which are short-term financing instruments that allow the investor to convert the invested capital into shares of the company. In this sense, investments in HarBest Market and Hunty correspond to 8% and 5% of the companies.
Miguel Angel Rodriguez Cavedaco, the founder and CEO of BeHappy Investments, explains that "One of the key criteria in investing in these companies was that their business models were aligned with our investment philosophy." HarBest Market's activity "has a deep ecological awareness", and their activity "significantly reduces the carbon footprint" in addition to supporting the rural environment.
Jose Luis Nieto, the CEO and founder of R-foodlution, a Spanish capital firm that intends to operate in food markets with high growth potential and local added value, believes that investing in HarBest Market is the right move in the primary sector, connecting consumers, producers, and employment in a long-term strategy in the digital transformation process, in which the sector agriculture is one step ahead of others.
Spain is currently one of the world's leading hunting regions, with almost a million licensed hunters occupying the second most popular sport in the country. This means that hunting is bringing tourism from the city to the countryside, thus promoting rural employment and thus reducing rural population.
"This investment will allow us to enhance our technology so that we may continue to grow efficiently." We want to reach all corners of Spain, thus helping local hunting organizers to promote their hunts and attract new clients. 2024 will be the year of expansion," says the authors of Hunty.
According to the most recent study on food consumption in Spain, extra-domestic consumption increased by 23.2 percent in terms of billing over in 2020. HarBest Market also saves between 20% and 30% on gas costs, as well as reducing kilometers by 28% of CO2 and 25% food waste.
"The assistance of BeHappy Investments will help us expand our network of producers in other food verticals, as well as strengthen our operations in the cities where we operate, Madrid and Barcelona," says HarBest Market's CEO.