PRESS RELEASE: Qallo attracts Spadel as new investor and aims to conquer Europe with its powdered beverages

The Qallo founders - Niels Peetermans, Alexander Van Laer & Moos Tits - holding the Qallo products.

Antwerp, 20 April 2023 - Qallo is a Belgian company that launched an innovative powdered-based energizer in October 2021. Consumers can mix the product based on plant extracts and vitamins with water into a healthy and fruity energizing beverage. The Qallo products are becoming increasingly attractive to people looking for a low-sugar and more sustainable alternative to traditional energy drinks. Qallo has big ambitions and wants to target the entire European market with its powdered beverages. The company can now count on the financial and strategic support of the Spadel family group, the producer of SPA and Bru water, who recently became a shareholder. The investment round was also backed by Qallo's existing investors and by multiple angel investors from BAN Flanders.

Qallo was founded by Alexander Van Laer, Moos Tits and Niels Peetermans, three Antwerp-based entrepreneurs who had already made a name for themselves a few years ago with the launch of the successful car-sharing service Poppy. With Qallo, they offer an innovative powdered energized based on plant extracts and B vitamins to promote concentration and energy. Consumers then mix the powdered solution with water into a refreshing energizer. Qallo is currently available in 3 flavors and is a low-sugar, low-calorie, 100% vegan product.

The Qallo team - Moos Tits, Niels Peetermans, Alexander Van Laer & Ian Hesbeens - holding the Qallo products.

"Qallo's mission is to spark positive energy. Our products are aimed at a broad group of people looking for a low-sugar and refreshing energizer, as an alternative to traditional caffeinated beverages such as coffee or energy drinks for example”, explains Alexander Van Laer, one of Qallo's three founders. “In addition to being a healthy beverage packed with natural ingredients, Qallo also plays a positive role in hydration, as each bag of Qallo powder should be mixed with 0,5 - 1 liter of water, encouraging consumers to drink more water throughout the day. You can make your Qallo at the point of consumption, which is very convenient. The only thing you need is water and a portion of Qallo."

Over 300.000 units sold

Since its launch in October 2021, the new product has seen great success, proving that it meets a need in the market. Today, Qallo has already sold more than 300,000 energizers, which are developed and produced in Belgium. The Belgian company aims to become a leader in the growing market of functional beverages, with the ambition to quickly cross Belgian borders and target the entire European market. In Belgium, Qallo's products are already available through the company's website, in all AS Adventure stores, in Game Mania stores and on Farmaline.

The Qallo founders - Niels Peetermans, Moos Tits,  Alexander Van Laer - making a Qallo with a SPA® Reine Eco Pack.

This strong growth potential attracted the attention of the venture capital fund “The Source, Ventures by Spadel”, launched by the Spadel Group in June 2021. The Source subsequently took a minority stake in Qallo. This investment fits perfectly with The Source's objective: to take stakes with Spadel in promising start-ups in the field of hydration to help them grow through financial and strategic support.

“We are pleased to support Qallo in its journey to become a European leader in the functional beverage market. This investment is a strategic move in a market that is expected to grow tremendously in the coming years and in which we intend to position ourselves early to exploit its full potential”, underlines Clément Yvorra, Spadel's Global Business Development Manager. “By investing in Qallo, we are taking a stake in an emerging category with strong development potential and high innovation, at the intersection of two fast-growing market segments in the world of hydration: energy drinks and water enrichment solutions. In the coming months, our objective is to continue to take stakes in innovative and sustainable companies.”

About Spadel

Spadel is a European family-owned group whose mission is to provide consumers with natural solutions to their hydration and refreshment needs throughout their lives. It markets brands of natural mineral water, spring water and natural mineral water-based soft drinks: Spa and Bru in the Benelux, Devin in Bulgaria, Wattwiller and Carola in France. Sustainable development is naturally part of the Spadel Group's DNA. In 2022, the Spadel Group achieved a turnover of 320.8 million euros. At the end of 2022, the group employed 1,329 people.

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