London, U.K-based provider of a website builder platform, Munch, raises EUR 1.5 million in recent funding. The pre-seed round took place on October 13, 2022. Notion Capital and Credo Ventures led the financing for the firm.
Purpose of funding for Munch
With the latest capital injection, Munch intends to invest in its product growth.
The company also seeks to deploy its fund towards development teams. It aims to hire more professionals. Besides, Munch has plans to expand its marketing activities.
What the Munch officials have to say
Alex Bondarev, CEO and Founder of Munch, said, “SMBs are the cornerstone of stable economies and most of these start as a side hustle. That’s where we want to focus first. We’ve had a great run with all the simple website-building tools, but now I feel it’s time for the tools to be as flexible as people’s lives are today. People who want to succeed online deserve better tooling, especially in the modern world.”
Jake Yaxley, Product Manager at Munch, further added, “The era of the side hustler is upon us, and yet the website building tools available are stuck in the dark ages. Given the current global economic climate, we shouldn’t be standing in the way of people creating secondary income streams. However, boring template-based website builders that charge large transaction fees on top of steep monthly subscription charges are stopping hustlers in their tracks. This is where we want to change the game. Munch removes excessive costs, rigid templates, or a need for code literacy, and we put the power back in the hands of the hustlers.”
What the investors have to say
Kamil Mieczakowski, Principal at Notion Capital, said, “The latest Microsoft research found that almost two-thirds (62%) of Gen Z intend to start their own business, and we believe that the Munch team have developed a perfect tool for it while providing useful boilerplates puts the creator’s individuality at the forefront. The Munch team have lived and breathed the challenge of launching and running an online business, and their deep understanding of the problem is now beginning to translate into an impressive product that is gaining more traction by the day.”
Jan Habermann, Founder at Credo Ventures, said, “We at Credo love backing product-oriented founders. The team at Munch has a unique combination of technical ability with intimate knowledge of the space for which they have been building the product. And we really believe that such a combination has helped them to create a perfect tool for thousands of creative people who have been struggling with the complexity and limitations of the existing platforms.”
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