When we first launched the company back in 2014, we pioneered equity crowdfunding for restaurants, so the name EquityEats seemed like a stroke of genius. Three year later, and greatly influenced by owning and operating our own restaurant, we have developed an even better way to finance local businesses. The equity crowdfunding has been replaced with VIP gift cards which we purchase from the business, meaning they get the capital to grow today, without having to wait for a campaign. And we've expanded beyond just restaurants, successfully funding gyms, meal delivery companies, and CSAs. Early in the year, the team looked at our name and decided that the "Equity" was confusing (since we no longer take any equity), and the "Eats" was just a sliver of our potential.
The name derives from the term "payment-in-kind", because the businesses are using their goods and services as payment, rather than cash. Additionally, our overarching mission is to help local businesses and be a resource for growth and longevity.
Our recent B Corp certification has been an important indicator that we have created a company that cares about local businesses and a product that is designed to help them succeed. It's a status we share with companies such as Patagonia and Techstars, that recognizes the social and environmental impact goals of the company, not just its commitment to its shareholders.
Over the coming weeks, we will be transitioning over to our fresh new website, inKind.com, our logo will be changing - bye bye bottles - and our social media accounts will be automatically updated. You'll still be able to reach us at our firstname.lastname@example.org email addresses, but the response will come from email@example.com.
We're excited about this new phase. We will still be hunting out the best restaurants to be working with and will supplement them with other awesome local businesses that want to engage their community to help them grow.
Questions? Feel free to reach out to us at firstname.lastname@example.org