The loan investment in Freshlabels has been successfully repaid. The return reached 11.3% p.a.

The secured operational loan for the Czech fashion brand Freshlabels was repaid in full to Crowdberry investors on May 15, 2026, including a bonus in the form of an early repayment fee. The €300,000 in financing that investors provided to the company in November 2024 yielded an annual return of 11.3% p.a., with not a single delay in interest payments throughout the entire duration of the investment.

Company that has confirmed investors' confidence

Freshlabels is one of the pioneers of sustainable fashion in the region. For 18 years, the Czech company has been building a brand based on a curated selection of global brands such as Patagonia, Carhartt, Freitag, and Fjällräven. Today, it operates through an online store in 26 countries and also runs two physical stores in Prague.

At the time Crowdberry investors entered, the company had a D credit rating, which signaled a high level of risk. At the same time, it lacked sufficient capital to purchase inventory, which was hindering sales and further growth. The solution was inventory financing, which was intended to support a return to the growth phase and stabilize operating cash flow.

For investors, this represented an opportunity to participate in attractive returns with a risk that was significantly reduced thanks to a rigorously structured financing and collateral arrangement.

Investors were in the position of secured creditors, with loan repayment secured by a lien on inventory and strong personal guarantees from the company’s owners, jointly and severally—on first demand and without cause.

This structure helped de-risk the investment despite the low credit score and simultaneously enabled the company to resume inventory purchases and support growth, which was already evident by the end of 2024.

The management of the investment itself was equally transparent. Throughout the term of the loan, investors received regular quarterly reports on the company’s financial performance, and semi-annual interest payments were made on time and in full.

Systematic structuring as the foundation for risk mitigation

Every investment in private debt has its own specific dynamics. Its quality depends not only on the company itself, but above all on the ability to correctly identify and assess risks and subsequently put effective safeguards in place.

What determines the quality of an investment decision?

• aligning the investor’s expectations with reality and the borrower’s strategy,
• identifying risks—sectoral, operational, financial, and managerial,
• and structuring the loan to specifically minimize the identified risks.

In financing Freshlabels, we combined standard protective mechanisms with multi-layered loan collateral, which included:

• a lien on inventory registered in the Notarial Central Register of Liens,
• a notarial deed with direct enforceability,
• and a financial guarantee from the shareholders, including Tomáš Baťa's family fund, payable on first demand and without cause.

“With private debt, it is not only important who you are financing, but above all how the entire investment structure is set up. Freshlabels was an example of how quality management, transparent communication, and strong shareholders who approached their obligations responsibly from day one can work together effectively. That is also why the investment delivered results to investors exactly as expected,” says Marek Baranyai, Crowdberry’s debt financing manager.

The entry of institutional capital has confirmed Freshlabels' creditworthiness

Another significant milestone for the company’s financial standing came in the fall of 2025, when the investment group SPM Invest—led by entrepreneurs Slavomír Pavlíček and Marek Španěl (co-owners of Bohemia Interactive)—made a strategic investment in Freshlabels.

Through its apparel division, NÁŠ OBCHOD s.r.o., the group acquired a majority stake in the company. The original shareholders—including the Tomáš Baťa family fund, Grossman & Partners, Tensor Ventures, and the founders themselves—remained part of the ownership structure.

For Crowdberry investors, this step represented definitive confirmation that Freshlabels had successfully passed the stabilization phase and continued to grow with a strong capital base. In addition, the brand gained room for further expansion and potential synergies with established brands such as Pietro Filipi, STYX, Feratt, and trenyrkarna.cz.

The investment in Freshlabels demonstrated that a carefully structured private debt facility can effectively support company growth, protect investors’ capital, and simultaneously deliver attractive returns with managed risk.