Indonesia

Pod Chocolate 3

This third loan of EUR 15,000 enables Pod Chocolate to purchase cocoa at a fair price from a farmer cooperative on the island of Flores. This means 209 local cocoa farmers will get access to new sales markets and receive more income to improve their standard of living.

  • Direct investment
  • 209 people reached

€15,000

Amount

12 months

Maturity

0.00%

Annual interest
100%
Fully funded in 42 days on 15 April 2021.

General Information

  • Company Name: Pod Chocolate
  • Director: Tobias Challenger Garritt
  • Founded: 11-12-2009
  • Location: Bali
  • Sector:  Chocolate 
  • Turnover: €888,877
  • Employees: 174

 

Direct loan

This is a direct loan to a business. It is advisable to cautiously determine the amount you invest in this project. Look here for more information about the risks of an investment. 

Available Documents

Information document issuing entity

 

About the Company

Pod Chocolate makes fairly produced chocolate bars and chocolate spread using locally cultivated cocoa beans. The company is based in Denpasar, the capital of the Indonesian province of Bali. There is a lot of cocoa on Bali, but due to pests and low yields for farmers not much was harvested. Some farmers had already started to fell their cocoa trees.

Tobias Challenger Garrit saw this as a reason to bring about change. Tobias founded three cocoa farms in order to research how cocoa products in Indonesia could be improved without intensive use of chemicals. At the same time, he focused on developing recipes for a premium chocolate bar.

Through Pod Chocolate he ensured employment opportunities and a local market for 648 small scale farmers, who deliver their coconuts and sugar at a fair price. The farmers are supported to increase the quality and yield of cocoa. Apart from purchasing cocoa from farmers’ cooperatives, the company also buys other raw materials from local suppliers in order to produce different chocolate flavours.

From its modest beginnings in a small, thatched hut on Bali, Pod Chocolate has grown to be a successful and social enterprise supporting local farmers and communities. In January 2017 they opened a new factory with modern European machinery. The factory is popular with both international and local tourists and is an increasingly popular destination as an educational centre for schools and universities. Furthermore, Pod Chocolate has two more shops on Bali where its products are sold.

Loan Purpose 

This third loan of € 15,000 enables Pod Chocolate to purchase cocoa at a fair price from a farmer cooperative on the island of Flores. This means 209 local cocoa farmers will get access to new sales markets and receive more income to improve their standard of living.

 

Previous loans via PlusPlus

Pod Chocolate needs funding to buy cocoa and other raw materials to be able to make chocolate bars and chocolate spread. More chocolate sales means more cocoa beans and other raw materials bought and therefore more income for local cocoa farmers.

In recent months, investors of PlusPlus have provided two loans to Pod Chocolate. With the first loan of 15,000 euros, the company was able to increase the production of chocolate spread for new markets. The cocoa beans used for this were purchased at fair prices from local cocoa farmers. The second loan of EUR 15,000 will be used to purchase a packaging machine so that the chocolate bars no longer have to be packed manually.

 

COVID-19 Update 

Pod Chocolate has been hit hard by the COVID-pandemic but is proving to be resilient. The sale of chocolate has decreased significantly due to the decline in foreign tourism. Bali currently does not allow tourists from important countries such as China and Australia. However, domestic tourism does offer opportunities for extra turnover, as well as new local markets.

Pod Chocolate now sells chocolate spread in Bali and online throughout Indonesia. Chocolate spread has a longer shelf life than chocolate bars. And because sufficient raw materials for chocolate paste were already available, this production was first scaled up to get more turnover from sales in the short term. Online sales are now the main source of income and a growing market of loyal buyers. In addition, Pod wants to focus on expansion into the international market.

Pod chocolate is continuing with their activities despite limited capacity and is taking extra safety measures for visitors, on top of the current hygiene and safety protocols. 

 

Mission & vision

Pod Chocolate’s mission is to make some of the world’s best, most fairly produced chocolate and in doing so, improve the living conditions of local cocoa farmers and their communities.


Impact 

The loan impacts 209 local cocoa farmers on the Indonesian island of Flores:

  • A fair price for the purchase of cocoa and therefore a better income
  • Access to new sales markets
  • By collaborating with the international NGO Rikolto the farmers get access to knowledge about sustainable agricultural techniques. This improves both the quality and production of cocoa.

By purchasing cocoa from local farmers in Flores, Pod Chocolate wants to develop premium chocolate of specific origin. On the island, almost 1/10 of the agricultural land is used to grow cocoa trees, a crop essential for the regional economy. Production is low, below the national average. This is due to aging plantations, a lack of good agricultural practices and pests. As a result, the standard of living of cocoa farmers is low. Pod Chocolate wants to offer these farmers fair prices and a new market. If successful, the company will also purchase cocoa from local farmers on the island of Papua.

With the purchase of cocoa from Flores, Pod Chocolate wants to develop premium chocolate of specific origin. The standard of living of cocoa farmers on Flores is low due to a limited sales market and low cocoa prices. Pod Chocolate wants to offer these farmers better prices and a new market.
If successful, the company also intends to purchase cocoa from local farmers on the island of Papua.

 

Management team

  • Toby Garrit is Pod Chocolate’s founder and CEO. He studied law and hospitality management. In 2001, Toby moved to Bali, where he founded a travel agency, which he sold after several years. Travelling awakened his environmental awareness. In 2007, Bali hosted the UN Conference for Climate Change. This allowed Toby to launch environmental initiatives aimed at protecting the tropical rainforest, supporting communities and combatting climate change. He did this for 6 years and raised funds of over $5 million before founding Pod Chocolate.
  • Ida Bagus Nama Rupa is Pod Chocolate’s COO and joined the company in 2016. He has 24 years of experience in the tourism sector and leads Pod’s Edutourism-activities. He is also responsible for Pod’s compliance with applicable laws and regulations.


For the website, please go to: https://www.podchocolate.com/

Company namePod Chocolate 3
CEOTobias Challenger Garrit
Founded2009-01-01
LocationDenpasar, Bali
SectorAgriculture
Turnover€888,877
Employees174

Impact of this project

  • With this investment 209 people are reached

About the investment

TypeDirect investment
IssuerBali Coklat
Funding target€15,000
Annual interest0.00%
Maturity12 months
Repayment periodSemiannually
CurrencyEUR
Terms and conditionsShow

About Bali Coklat

Total assets€1,305,626
Revenue€888,877
Leverage ratio55.00%
Liquidity430.00%

About the risks

Read more about the Risks.