Fryd

Fryd is a tech company that develops an app to help people grow their own food, promoting healthy, sustainable practices that benefit both people and the planet. Founded by Jens Schmelzle, Florian Hassler, and Steffen Abel, Fryd initially bootstrapped but soon realized they needed external funding to scale. They participated in the Green Startup Program and secured pre-seed funding through Startup BW with Business Angels LBW, boosting their confidence in finding the right investors.

While exploring convertible loans and impact investors, the founders discovered that most impact investors still prioritized high returns and exit strategies, clashing with Fryd's long-term vision of independence. As deadlines loomed, pressure mounted, and they faced the familiar dilemma of "go big or go home." A breakthrough came when a business angel introduced them to steward-ownership, and the concept resonated deeply. Discussions within the Green Initiative of the Bundesverband Deutsche Startups and resources like the Purpose Foundation workbook solidified their resolve: Fryd would become a steward-owned company.

The decision wasn’t easy. Institutional investors unfamiliar with steward-ownership backed away, but business angels and family offices appreciated Fryd’s clear purpose. Despite fears and a shrinking pool of potential investors, the founders stayed committed. Their persistence paid off when Purpose Ventures joined as a lead investor, followed by support of the strategic investor Samenhaus Müller. Fryd raised €1.15 million in a seed round with seven investors, structured as subordinated loans. This steward-ownership-aligned financing allowed Fryd to grow while staying true to its values.