A world without disposable plastic with Aquablu

Aquablu's adventure began six years ago during a surf trip to Cape Town, where Stokvis was confronted with the devastating impact of plastic pollution on the ocean. Stokvis recalls, ‘While floating around there, I got caught in a stream of plastic bottles. That got me thinking. Maybe I could develop a system where people no longer buy bottled drinks, but instead can tap an attractive alternative from a device?' Back in the Netherlands, Marnix and his business partner Marc van Zuylen joined forces and so Aquablu, a company that makes smart water dispensers, was born.

Because Stokvis and Van Zuylen have a background primarily in finance and commerce, they looked for designers to develop their product. Stokvis: ‘As a team, we came up with all aspects, from software to hardware. The product not only had to be hygienic and offer a healthy and tasty alternative, but also had to have a user-friendly system.'

Eventually, Aquablu brought to market a tapping point that filters tap water and enriches it with effervescence, cooling and/or different flavors: the Aquablu Refill. The drink, with vitamins and minerals, should offer a healthy alternative to less healthy options such as soft drinks and coffee. Stokvis: ‘We focus on B2B sales, and specifically on offices and hotels. A comprehensive IT platform allows us to troubleshoot, install updates and track consumption remotely. That way we know exactly how much disposable plastic is saved per location.'

Aquablu's ambitious growth plans received a boost thanks to a collaboration with the Rabobank Startup and Scale-up Team, with Startup and Scale-up banker Robbert Lut and account manager Dyon Veenboer assisting Stokvis. Lut explains: ‘Reducing disposable plastic and promoting healthy habits appealed to us. So, from an ideological perspective, we found it very interesting. On the other hand, from a business perspective, Aquablu was already active in the market with big customers and distribution channels. They were actually already at an advanced stage of product development and customer loyalty, but to grow even further they needed financing.’

With financial solutions and advice, Rabobank played a crucial role in supporting Aquablu during its start and scale-up. Financing based on overdrafts was chosen. In addition, Rabobank brought Aquablu into contact with various financing partners. Via them there are talks with specialists in the field of water dispensers, follow-up financing and interesting models such as a lease model of the Aquablu Refill. Stokvis explains: ‘In the first period, it was a matter of thinking along about the possibilities. Banks are generally reluctant in the early stages, but Rabobank has certainly made a commitment. Now, at an advanced stage, it's mainly about supporting growth and exploring future possibilities.'

With a solid base in the Netherlands and a growing presence in 16 European countries, Aquablu is looking at further expansion in the Netherlands and abroad. Lut is positive: ‘Aquablu was actually an unusual case, because we normally deal with startups that are still developing their product. But Aquablu already had a finished product, so they were already on the market with large existing customers and distribution channels during the startup phase. That makes it a company with a lot of growth potential. We really see this first financing as a step towards a promising future, where in addition to financing, Rabobank is also happy to open up its network and share the knowledge available.’

Looking back on recent times, Stokvis is proud of the success rate of all the pilots Aquablu has conducted. Stokvis: ‘We really had to prove ourselves over the past year. We dropped our product at leading companies such as Adyen, Heineken, Accenture and the Schiphol Group.' The fact that customers return on their own initiative and ask for expansion, combined with the high NPS scores (always over 96), confirms to Stokvis that the Aquablu Refill is a product that makes people happy. 'They are not only satisfied, but excited to expand it. It's great to see how our product has been so positively received by people in the first year.’

Aquablu was able to grow further with help from Rabobank. Wondering what we can do for your startup or scale-up? Check out our various financing products and innovation funds for sustainable growth in every stage of development. Besides financing, the Startup & Scale-up Team is also happy to put its knowledge and network to work for you.

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