Bunsters seeks $2m for Asia, Europe expansion

Perth-based hot sauce brand Bunsters Hot Sauces is seeking $2 million as part of an equity crowdfunding round, aiding the company’s international expansion.

That comes after the company raised $1 million with the help of investment group Perth Angels in June of last year.

The latest round, conducted through online crowdfunding platform Birchal, has already exceeded its minimum $100,000 target, with the company having raised $322,168 from 287 investors.

Founded in 2017, Bunsters regularly appears on Amazon’s list of bestselling hot sauces and has featured on popular YouTube series ‘Hot Ones’.

According to company founder Renae Bunster, stringent border controls brought on by the COVID-19 pandemic had given Australians an impetus to support local businesses, citing a doubling in sales of the company’s hot sauce between March of last year and this year.

“Coronavirus has given rise to a massive groundswell of support for Australian made products,” Ms Bunster said.

“We’re Australian, our sauce is made in Australia, by Australian people, using Aussie ingredients and our money stays on Aussie soil.

“People are finally realising it’s worth paying a little more for Australian made food that you can trust, because it employs Aussies and keeps Aussie farms in business.”