Flings lands $2.3m

The BFY toaster pastry brand closes its seed round to fuel US retail expansion following a successful pilot at Target.

Like Pop Tarts, but MAHA friendly.

Deal Overview

$2.3m in equity funding led by a single, undisclosed investor and supported by existing angels already invested in the brand.

No institutional capital is reportedly involved and valuation was not disclosed.

Though this is Flings’ first publicly reported raise it’s likely pre-seed funding was raised to get the operation off the ground in 2022.

The goal?

Do for toaster pastries what Goodles has done for mac & cheese…

Why Flings is Fundable

1 / Proven CPG founders

Dino Vassilou and Ben Outmesguine are childhood friends and second-time CPG founders who previously built and ran CoolWhey Ice Cream, North America’s first protein-centric ice-cream brand.

They launched CoolWhey in 2014 at ages 19 & 20 and ran the brand until exit in 2022, ultimately finding success in Canada as the fourth top-selling ice cream pint brand.

Dino and Ben are now taking their learnings and capital earned from Coolwhey to Flings.

Repeat CPG founders = fast-track to securing capital.

2 / On-trend products

Low sugar (4g). High protein (10g). Low carb (9g). High fiber (10g).

Decadent flavors like Strawberry, Hot Chocolate, and Blueberry.

Well-positioned to build the permissible indulgence brand of the breakfast category.

Flings reformulated their pastries last year to further enhance nutritionals and improve taste / texture.

In = honey, coconut oil
Out = sugar alcohols, seed oils

Squarely on trend with what today’s consumer is looking for.

3 / Mass-market potential

Pop-Tarts alone sell +$1b worth of pastries (US) each year and even has its own college football bowl game.

Add in the growing BFY bakery sub-segment championed by nearly half (46%) of US adults actively reducing sugar intake and the market is enormous.

Flings has found early success in Target, driving strong velocities in a 500 store test scattered throughout the US.

Expansion to 1,500 Target locations is coming by September with additional plans to grow with a few other strategic retailers.

“Making Flings a household name in breakfast and snacking is the priority right now.” - Dino Vassilou per NOSH.