NEW YORK — Snack startup tbh is raising capital on the investment platform Republic to support new product development and retail expansion plans.
Co-founded by Netflix’s “Stranger Things” actor Noah Schnapp, alongside co-founders and co-chief executive officers Elena Guberman and Ba Minuzzi, tbh markets hazelnut cocoa spread with no palm oil and less sugar than, Nutella. The product is formulated with hazelnuts, sunflower oil, pea protein, cocoa and a blend of organic sugar, soluble corn fiber and monk fruit. Since its launch last year, tbh has collaborated with several other emerging brands to showcase the spread as an ingredient in a variety of applications.
“I started working with Netflix when I was 8, and have been consistently growing my financial portfolio, but I don’t want to just accumulate money; I want to circulate money wisely to create a legacy, to effectively build a community to change things for the better,” Mr. Schnapp said. “I’ve been learning to invest in startups, and now as the co-founder of tbh, I want to give the same opportunity to my fans. I am officially inviting them to join tbh’s journey. tbh is more than just a snacking company. It’s about sustainable consumption. My generation believes we can do better, and the more we vote with our dollars through buying and investing in products with clean ingredients and companies that really care about doing good, we can create a wave of change for the better. It’s no coincidence that tbh’s mantra is, ‘spread the good stuff.’”
Republic was created to provide equity investing opportunities to everyone. The platform empowers startup founders to tap into engaged communities for as little as $10 per investment. The tbh crowdfunding campaign has an investment minimum of $50.
“We wanted to lower the barrier to investing,” Ms. Guberman said. “Many of Noah’s fans are young; this is our way of sharing the upside and educating his audience about investing — instead of just providing a product. We’re building a strong community, and we consider our investors our inner circle.”
Over the past year, tbh has amassed an online following of more than 160,000 on Instagram and 190,000 on TikTok, with more than 20 million views, according to the company.
Investors may access the crowdfunding campaign at republic.com/snack-tbh. The startup plans to use the proceeds to broaden its retail footprint beyond the West coast and launch single-serve packets.