How Venture First Partnered
Reducing Restaurant Industry Waste
Based in Louisville, Kentucky, FreshFry holds a patent for and distributes proprietary pods that purify and elongate the useful life of frying oil. This enables frying oil to last longer with fewer contaminants which offers cost savings to restaurants and a positive environmental impact by reducing waste within the industry.
CFO Services
As FreshFry began to grow and seek out financing to make the investments it needed to scale operations, its team recognized the need for a trusted services partner that would help them get organized and approach potential investors with confidence. For over three years, Venture First stepped in as FreshFry’s outsourced financial services partner, providing them with an array of CFO Services, including accounting; systems and process improvement; financial reporting and analysis; forecasting and budgeting; cash flow forecasting and management; and capital raise support.
Growth Focus
Over the period of our partnership, FreshFry has grown revenue by nearly 5x and is expected to grow by 2.5x in 2023. Meanwhile, process improvement and data-driven operational insights from the Venture First team have enabled FreshFry to improve its overall gross margins.
Cash Forecasting & Management
Cash flow management has been critical to Fresh Fry’s success as it seeks the capital it needs to invest in its growth. Through weekly cash flow forecasting sessions and scenario analysis, FreshFry has always maintained a strong understanding of its runway and the capital needed to continue growing. With Venture First’s capital raise support, Fresh Fry has raised $4.0M in outside investment.
