With a mission to redefine the olive oil industry and help create a sustainable food system, Amfora has been working to build regenerative olive oil supply chains across Europe since 2019. Now they are seeking to expand their work and impact with a Є500,000 sharefunding raise in collaboration with Netherland-based green equity investment platform, Broccoli, a partnership seeded at the 2025 RFSI Europe program in February.
Currently, the transition to regenerative agriculture is too slow, says Amfora founder and CEO Eurof Uppington. The way to speed it up is to support farmers’ transition by reducing their risk and paying them more for what they grow. Amfora’s strategy aims to do just this within one of the biggest land use categories in Europe – olive trees – leveraging a large olive oil market.
Eurof explains “The Mediterranean is the most important yet most degraded market in Europe; olive production is the biggest single land use there and boasts a global market worth EUR
30 billion.”
The Amfora Model
Amfora works directly with olive farmers as the single intermediary between them and restaurant buyers. This eliminates several layers in the supply chain, ensuring buyers pay the same or lower prices and farmers get a regenerative premium. Existing supply chain players have evolved an ecosystem that makes them reliant on particular price points, other middlemen, and specific distribution partners, explains Eurof. Amfora cuts through this. This gives them a huge advantage over other olive oil brands because it allows them to offer better quality and service at the same or lower price.
Shrinking the EVOO Supply Chain
Source: Amfora
The Amfora team is well equipped to serve both farmers and the restaurant buyers they work with. The team combines expertise in the gastronomy space, vertical knowledge in olive oil, some agronomy, and the ability to recruit and onboard farmers to a new business model. Beyond that, they also understand the regenerative principles they want their farmers to apply, says Eurof.
Those are key barriers to entry. But Amfora also works under the radar of their main competitors, general restaurant supply brands. These competitors can carry 10,000-30,000 SKUs across meat, dairy, dry goods. Olive oil as a category for them is at best 5% of sales, Eurof explains, so they are less likely to notice even a substantial loss in B2B olive oil market share
Growth
With an established market in Switzerland – and an approximately 7% share of the B2B olive oil total addressable market (TAM) in Zurich, representing about $1M in sales – the company is now expanding to other larger markets with the announcement that it is now serving the UK.
“From the start,” Eurof explains, “we realized that only geographical expansion can create the impact we wanted.” With the addition of the UK market, they have 5x’d their TAM. “Just this month we’re adding three new farmers,” says Eurof – up from the 10 farmers they buy from for the Swiss market. Amfora aims to more than double volumes next year — and every year for the foreseeable future.
With a Є5.1 M valuation, to fund this expansion and fuel further expansion into other European markets, Amfora has set out to raise Є500,000. Funds raised will be used to:
- Support increasing working capital needs as Amfora’s growth accelerates
- Firm up the position Amfora has in the UK, and add the bandwidth needed to industrialize rapid expansion
- To finance expansion into Netherlands and France. Paris has more restaurants per capita than anywhere else in the world, claims Eurof
- Over 60% of the raise will be allocated to sales and the onboarding of farmers — directly leading to more regenerative outcomes
A Unique Fundraising Approach
The fundraise is taking place on the innovative sharefunding platform, Broccoli, a connection made at the 2025 RFSI Europe event in February and which has blossomed since.
Founded by Wouter Hagoort, Broccoli is a digital platform that enables entrepreneurs to raise growth capital in exchange for shares of their company. This approach, a lesser-known type of crowdfunding called sharefunding, allows community members – such as customers, suppliers, partners, and co-workers – to become co-owners of a company, while providing important capital and promoting a sense of shared ownership and responsibility. Wouter explains, “Traditional crowdfunding usually refers to debt-based funding, whereas sharefunding specifically involves equity – investing in shares.”
This approach appealed to Amfora for several reasons. “VC and the whole PE funding approach comes with some strings and hidden costs, which didn’t really suit us. It’s not always founder-friendly,” he explains. The strings can include increased risk of founder dilution through preference share terms and provisions for down rounds, a lengthy and time-consuming funding process taking management capacity from a founder team — at least 6 months, and increased risk of mission shift in case VCs need to try to package start-ups for exits. He also explains that while Amfora may have venture like growth and scalability, he’s found that few VCs want to invest in non-tech, B2B or consumer-facing companies.
Sharefunding is a much better fit in Eurof’s eyes, “Our investors will be fully aligned with us, from a legal and financial perspective. Next to that, the offer period is just 8 weeks, minimizing business disruption. We have to pay platform fees, but as the negotiations are much simpler, overall costs end up being comparable. Plus, we can open it up to our farmers and customers to participate and deepen our relationships and alignment with them.”
Broccoli, Wouter says, goes far beyond this, opening up opportunities for investors, as well. “Our mission is to democratize access to investment opportunities in the companies of tomorrow—opportunities that are typically reserved for professional investors.” Broccoli is open to a broad investor community, and he explains that the Broccoli team operate as a professional investor, not by investing their own money, but by conducting rigorous due diligence, and relying on an experienced investment committee to identify high-quality, impactful ventures so the investors can make their own choices.
For everyone investing, he explains, the opportunity here is that “By investing through Broccoli, you become a shareholder in tomorrow’s impactful startups. That means you don’t just share in future profits—you also participate in the potential increase in company value. Your investment is protected by a secured shareholders agreement, and you have options to exit either via the platform or during a later liquidity event.”
In particular, Wouter said, Amfora was a particularly appealing company to partner with because it aligns seamlessly with their values and mission. “With its short value chain, direct positive impact on farmers, and commitment to the highest product quality, Amfora embodies the kind of business we actively seek to support. Their focus on regenerative agriculture not only benefits the planet and her soil, but also empowers the farmers of tomorrow to run a commercially viable farm. And by producing a healthy, rich olive oil, Amfora offers customers the kind of product we believe everyone deserves.”
You can learn more about the Amfora investment opportunity and reserve your shares here.
Source: Amfora & Broccoli
What’s Next
Eurof explains that the expansion to the UK and this fundraise are only the beginning for Amfora.
“Our north star is the number of farmers we buy from, and the liters we sell” he said. “People and volumes: more farmers means more communities we can help with higher incomes, more liters sold means more hectares being brought into regenerative transition.”
The company is working on creating their own Regenerative Progress Monitor for their farmers, a type of internal verification and certification specific to olive oil that they can disclose to customers to help communicate both regenerative progress and product quality. The associated “scorecards” would include things like soil health, biodiversity, and social impact. They plan to roll this out next year for the next harvest.
Expansion in both London and beyond – to other European markets – are top of mind.
“London is just the start. Next Amsterdam, Paris, with this round of funding, then Brussels, Berlin etc. If Trump lets us, the US is next! 100x, 1000x Zurich! Thousands of farmers, hundreds of thousands of hectares, millions of liters — that’s the goal,” Eurof explains enthusiastically.
“Our impact on the land is like a spreading inkblot. 1st one or a couple of farmers in a village or a region start working with us. We buy everything they can make and want more, so they bring their friends in, and soon a large chunk of that community is selling to us and getting paid to take a regen journey they might not have taken otherwise. This is happening right now in the communities in Spain and Greece we’re working with.
“That’s what this London expansion is all about, and why we want to raise the money. Landscape level change!”
Sarah Day Levesque is Managing Director at RFSI & Editor of RFSI News. She can be reached here.