Feast & Fettle

Feast & Fettle

Early Stage

An award-winning subscription-based meal delivery service Invest

An award-winning subscription-based meal delivery service Invest


Raised to Date: Raised: $72,325

Total Commitments ($USD)



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Max. Goal
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Security Type

Convertible Note

SEC Filing Type

RegCF    Open SEC Filing

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% of Min. Goal
% of Max. Goal
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Year Founded



Food, Beverage, & Restaurants

Tech Sector


East Providence, Rhode Island

Feast & Fettle is an award-winning subscription based meal service. It earned the 2018 Editor’s Pick for Home-Delivered Meals in the “Best of Rhode Island” magazine, and it’s generated more than $107,000 in revenue during Q2 of 2018, which is a 95% YoY increase. Founded in 2016, Feast & Fettle offers seasonally inspired meals that are prepared and cooked by chefs, and delivered fresh directly to members. No cooking or prep is required, and plans are based on household size. They can be customized to serve between two and four full meals per week, accommodate various dietary needs such as being gluten-free or vegan, and provides a-la-carte entrees and sides. Feast & Fettle currently delivers meals in Rhode Island and plans to expand into Massachusetts in 2018 and Connecticut in 2019.
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Analyst Report Analyst Report Methodology Article


Raised to-date: $60k ($50k goal, $300k max)
The Feast & Fettle team has been selected as a “Top Deal” by KingsCrowd. This distinction is reserved for deals selected into the top 10% of our deal diligence funnel. If you have questions regarding our deal diligence and selection methodology please reach out to hello@kingscrowd.com


You can also see our Founder Profile with CEO of Feast & Fettle, Carlos Venture HERE, which was performed as part of our due diligence process.

Next Section: Problem


Everyone loves a delicious home-cooked meal, but very few people have the time, ability or interest to cook for themselves on a daily basis.  This problem is particularly true for working professionals and busy families, more and more of which are duel income households.


Meal Kit companies such as Blue Apron and HelloFresh have eased some of the burden by providing consumers with pre-portioned ingredients and recipes, but these meals still require 60+ minutes of prep.  Delivery services like Grubhub and Uber Eats offer convenient take-out options on-demand but lack the quality, comfort and health benefits of a home-cooked meal.


Consumers these days want quick and easy combined with healthy and fresh, and there are very few solutions out there that solve for all of these needs.

Next Section: Solution


Feast & Fettle is attempting to solve this dilemma by offering a subscription-based premium meal delivery service.  So how does it work? The company prepares home-cooked meals out of a central commissary kitchen in Rhode Island and delivers them to customers’ doorstep every week.  The meals are served family-style and are catered to the customers’ specific dietary preferences.


Each week the company releases a new menu where customers can choose from a variety of entrees and sides including items such as Simply Grilled Salmon, Asian Chicken Salad, Honey Buttermilk Cornbread and Fried Sweet Plantains.  Feast & Fettles “flex-scription” model gives customers the flexibility to choose various combinations and portions, and allows them to pause or change their plan any given week. Once the meals arrive they are stored in the fridge until dinnertime when customers simply heat up them up and enjoy – no cooking necessary.

Next Section: Other

Market Size & Industry Trends

Any way you slice it, the food market is massive.  The grocery market in the US is a $641B market and online grocery sales are predicted to reach $100B by 2025.  Ready-Made meals are a $66B market in North America, growing at 4% per year.


Feast & Fettle is capitalizing on a number of macro industry tailwinds including (1) a desire for convenience, (2) a preference for fresh and healthy foods, (3) broader acceptance of food e-commerce and (4) a decline in eating out.  The young but rapidly growing Meal Kit segment was valued at $4.65B in 2017, and is projected to be an $11B market by 2022.  Meal-kit companies such as Blue Apron and HelloFresh have demonstrated a willingness by consumers to order fresh food online in a weekly subscription fashion.  Feast & Fettle takes the meal kit model one step further by preparing the meals in advance so that consumers can save time and hassle.

Next Section: Other


A number of companies are fighting for “share of stomach” in the online meal delivery space.  The most direct competition comes from other companies delivering fresh prepared meals, including Freshly, Munchery, Prepped, The Foodery and Fresh N Lean.


Feast & Fettle differentiates from the other fresh prepared meal delivery players by offering family style portions with flexible subscription plans, rather than individual pre-portioned meals with non-customizable plans.


The company also faces competition from the Meal Kit players such as HelloFresh, Blue Apron, Plated, Green Chef, Purple Carrot and others, who have grown rapidly over the past few years.  Feast & Fettle stands apart from this crowd by delivering fully prepared meals, but there is nothing stopping these players from entering the prepared meal realm at some point in the future.  Lastly, the company faces some competition from online meal delivery apps such as Grubhub, Uber Eats, Postmates, Doordash and Caviar.

Next Section: Other

Business Model

Feast & Fettle’s business model is fairly straight forward.  The company offers subscription plans for singles, couples and families.  Plans range from $59/week to $299/week, depending on the number of meals and number of servings.


Costs of goods sold include food, labor, packaging and delivery.  The company claims a blended operating margin per order of $17 and hopes to increase this to $30 per order in the future.  Over the past 12-months, the company has seen an $83 CAC and a $424 LTV. On average customers are ordering 3.0x per month and the company is seeing 40% customer retention rate after the first year, which is substantially higher than some other industry players that struggle to maintain 20% long-term retention rates.  That bodes well for signals of real stickiness amongst consumers most likely driven by the convenience of prepped food and the value of having healthy in-home meals.

Next Section: Other


Revenue is growing rapidly at Feast & Fettle.  In the first six months of 2018 the company generated $194k in revenue.  In 2017 the company generated $231k, up 143% over 2016 revenue of $95k. The company has managed to keep losses to fairly modest levels of $36k in the first half of 2018, $12k in 2017 and $23k in 2016.  All in all, the company has been very efficient with its capital to-date and has demonstrated consistent and steady month-over-month growth.

Next Section: Other

Success to Date

The company has achieved some meaningful milestones in the first two years of operation:

  • 92 active customers (as of June 2018)
  • Adding 17 new customers per month (January-June 2018)
  • 40% long term retention rate
  • 2018 Editor’s Pick for Home-Delivered Meals in Best of Rhode Island magazine

Next Section: Other

Liquidity Opportunities

If the company executes well and is able to gain meaningful scale (eg. $10-100M in revenue), there could be a number of potential exit scenarios and/or large fundraising events in the company’s future.  Strategic acquirers would be interested in the infrastructure, brand and customer base that the company builds, particularly if retention rates remain high.


Financial sponsors will be attracted if the company can prove out strong unit economics and show early signs of profitability.  Some examples of potential liquidity events could include:

  • Food Service / Grocer (Amazon/Whole Foods, Safeway, Aramark, Sodexo, Kroger, Compass, Nestle, Unilever, Walmart)
  • Food Tech (Hello Fresh, Blue Apron, Freshly, Instacart, GrubHub)
  • Private Equity / Venture Capital
  • IPO

Next Section: Other


The core team at Feast & Fettle appears well-equipped to build a company of consequence in this space.  Carlos Ventura, CEO, has experience in investment banking and consumer start-ups, including in strategy and corporate development at Deliveroo, a Unicorn food delivery business valued at over $2B.   Maggie Mulvena, Founder and Executive Chef, has years of experience as a private chef and a Bachelor of Science in Culinary Nutrition.  The General Manager, Nicole Oliveira has been with the company since inception and comes from a background in Hospitality and Food & Beverage.

Founder Profile

Founder Profile: Homemade Meals In Minutes With CEO, Carlos Ventura Of Feast And Fettle

We’ve all heard the stories of Blue Apron and the rise of services like Hello Fresh. Although those are great services and have become businesses with hundreds of millions in revenue, there is still a major shortcoming of these services.

Most of these businesses still require meal prep aka time, which lets face it in the modern American family is something that is scarce and highly valued. Feast & Fettle wants to bring quality family dinners back into the equation but without all the time and prep associated with it.

That is why they are designing an at-home meal delivery service that provides fully prepped meals that are ready for consumption and enjoyment with family. With the meal kit and at-home delivery service market still on an upward trajectory, we think the level of service that Feast & Fettle brings could make for a uniquely differentiated and highly valuable brand in the space.

For these reasons, we dug in deeper and sat down with CEO, Carlos Ventura to deep dive into the business. We think you will like what he has to say.  

Read Founder Interview

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Feast & Fettle on MicroVentures
Platform: Microventures
Security Type: Convertible Note
Valuation: $2,500,000

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