A healthy mind in a healthy body...
This is a motto that suits Kevin Aouragh well. Learn about his story, that of an entrepreneur who wants to change the way we consume proteins through plant-based, organic products that are no less effective than traditional ones.
Sync is a protein brand that is good for the body, the mind, and even the planet (their products are eco-packaged). Silvr is proud to support the growth and success of Kevin Aouragh (CEO & co-founder of Sync), who is scaling up in Europe.
From the age of 19 onward, Kevin took part in a lot of sports. He subsequently became more and more interested in the nutritional aspect that sports require. Eventually, he became actively involved in bodybuilding. Originally, being an entrepreneur or working in the food industry were not his vocations. After an up-and-down path as a student and in the working world, he continues to work out diligently and sees two noteworthy things in gyms and fitness centers. “Dairy-based proteins are not digested well and no gym offers vegetable-based proteins. When they do, they are in the minority, they’re undrinkable, they taste like dirt – and they’re placed far from the view of members.” At the time, Kevin had no experience, didn't know how to put together a business plan, and had just obtained his art diploma. But a friend of his owned a fitness store; his entrepreneurial urge came to the fore, and Sync was born.
He set things in motion after a form of food redemption. He wanted his product to be good for the body and mind. The brand was launched after two years of R&D. It took that long to develop a plant-based, organic and high-performance protein. The single-product strategy desired at the launch was quickly re-evaluated, as it was too focused on performance, whereas Sync was looking to reach a larger number of people. As they put it succinctly on their website: “Our inspiration comes from plants. Since we can be fit and strong without gobbling up everything and anything, we launched 100% plant-based, organic, vegan, lactose-free, super-tasty proteins.”
Kevin put together a great team of four full-time employees (including himself) for a seven-figure turnover in 2021, and the ambition to double that by 2023. The DNVB's business extends over the whole of France. But they intend to continue offering all their products throughout Europe, starting with Italy, Spain and Germany. How can they do this? By pursuing their D2C model. Sync products should soon appear on Amazon Marketplace. The self-taught entrepreneur has also identified the potential of sales networks. That's why Sync has some impressive clients like the 5-star hotel, Brach Paris, and many fitness, yoga and sports studios. Sync has more than 25,000 end-customers.
At the beginning, Kevin chose to keep the capital of his business: the entrepreneur had not gone down the equity-raising route until then (read this Success Story to the end!). So, with his partner, he launched the business through self-financing and contributions from business angels, as well as grants from the BPI for innovative products. In order to scale up, he would need non-dilutive financing such as Silvr’s Revenue-Based Financing.
He makes all his acquisitions organically to save cash flow and keep it green. Word of mouth has led to excellent growth, as has the loyalty of Sync’s customers, who are convinced of the quality of the products. In 2020, without any Ads, it brought in revenue of €600 k on the basis of 75% recurring customers.
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Silvr arrived early in the Sync adventure and was able to finance some of the start-up's first acquisition campaigns. Because while word of mouth and organic SEO were enough to grow, it was necessary to step up investments to scale up. As of Q2 2021, Sync was experiencing an excellent ROAS of 7:1 on its acquisition campaigns. To develop its sources of financing, Sync unlocked Silvr's financing solutions for its inventory, raw materials, (recyclable) packaging, etc.
Kevin continues with Silvr for several reasons:
- The diversity of investments that Silvr allows;
- Free up cash to develop planet-friendly packaging that is recyclable;
- Because the European leader in FBR accompanies it at all stages of its business growth;
- And finally to accelerate its acquisition strategy.
We spoke about it before: Sync chose Silvr's RBF to keep 100% of its capital. In addition, by being relieved of certain expenses, its cash flow became healthier, which has consolidated its business and favored its Business Plan to “support growth and expand into Europe by raising equity.” This is now possible due to the rapid growth it experienced with Silvr, which is “the future of online business financing!”
“Silvr has been a game-changer for our brand. This financing has strengthened and supported our growth. We can now look towards European expansion, and consolidate our project to aspire to raise equity”
Kevin Aouragh - CEO & co-founder of Sync
Today, Mégane Lewis (Investment Associate at Silvr & Account Manager for Sync) and Charlotte Guégain (Investment Associate) manage the relationship with Kevin. They always succeed in “waving a magic wand” to make it super easy. Sync's co-founder and CEO recognizes all the reasons why he continues with Silvr. It has allowed him not to have to raise equity so far, in addition to being a game-changer. But the urge to accelerate and raise equity came. With Silvr, he has opened himself up to a new financing dimension. He decided at the end of 2022 to inject €500k to increase the company's capital.
Kevin is planning some fantastic and tasty new items, such as:
- Protein bars and cereals;
- And for those with a sweet tooth, a line of vegan, organic and low-sugar protein snacks is also coming.
The Foodtech brand will also start accessorizing its community by launching the shaker made of 60% corn (always vegetable). Sync will continue to synchronize with the desires of their customers and the needs of the planet by minimizing its carbon footprint. Today, great importance is given to eco-responsibility. So stay in sync with the brand on social networks, and watch them become the European leader in plant-based proteins! The will of DNVB, which has already well activated its turn into ONVB, is to continue to offer products in line with their values: 100% plant-based, commitment and transparency. We won't tell you more, but discover all their offers on the new website all beautiful, all organic of Sync.
Take advantage of a 15% discount now with the promotional code SILVR15 (discount valid on all products & the Discovery Pack – code not valid on other packs)!
Follow in Sync’s footsteps and finance your growth with Silvr: apply for ultra-fast-release financing.
Published on
March 28, 2023
By
Antoine
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