The seven-year-old business has gained financial backing from several industry heavyweights, including Graze co-founder Ben Jones and ex-head of M&S Food.
The company has seen value sales grow by 110.2% year-on-year, with volume up by 171%. Moreover, its value share in the ‘better for you’ category is said to be leading at a rate 1.6 times faster than its closest competitor, with 58% year-on-year growth.
Established in 2017 by Cathy Moseley, Boundless offers a range of plant-based, gluten-free crisps, nuts and seeds made with natural ingredients that are 'kind' to the gut. The company’s latest raise puts Moseley in the top 10% of FMCG female founders.
This investment raise is joined with further success across the foodservice sector, with the brand said to have increased Bidfood, Brakes and Foodbuy’s distributions by more than 2000%. It is also the first gut health snack offered by these suppliers.
Moseley expressed her joy over the news in what she described as a difficult category: “I’m incredibly proud to announce Boundless as the UK’s number one gut health bagged snack, having contributed to 13% of the ‘better for you’ crisp growth and driving penetration where this key metric is in decline at a category level.
“Boundless’ market share is growing faster than category in major retailers at 5.1% vs category at 0.2. With our current trajectory, Boundless is on their way to owning 1% of the Better For You category by the end of the financial year.”
These insights are based on Circana Data (which excludes Lidl and Foodservice success) alongside volume and value sales.
In other news, Defra minister of state Daniel Zeichner has confirmed the new government's intentions to take food security seriously.
