Espro is a Vancouver-based coffee product company whose flagship product is the redesigned ESPRO Press French press. The company first engaged Bibby Financial Services in 2013 after developing the ESPRO Press to secure funding to distribute the product to a larger customer base. Espro obtained a $400,000 invoice factoring facility from Bibby Financial Services, which it used to expand its customer base and develop new products. Though based in Canada, the majority of Espro’s customers are in the United States, and Bibby’s global footprint enabled rapid funding without engaging the International Monetary System. According to president and co-founder Bruce Constantine, the financing enabled Espro to double its revenue, employee base, and inventory. The company subsequently gained the financial stability to obtain a traditional bank loan. ESPRO is a Vancouver-based coffee and tea equipment company best known for the patented ESPRO Press, introduced in 2012 as the first grit-free French press in over fifty years. Founded by engineers Bruce Constantine and Chris McLean (the company emerged in April 2004), ESPRO designs brewing gear to remove grit, stop extraction after pressing, and maintain heat. Its products have received accolades from Popular Science and the New York Times and helped the company expand distribution since 2012. Management says recent funding will accelerate product availability, enable substantial improvements to a range of brewing methods, and support new product introductions. ESPRO plans to ramp up sales and marketing and expand global distribution to capitalize on growing demand in the specialty coffee and tea "Third Wave" market.

Total raised

$1M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Feb 2016