Just hours before its Crowdcube bond was supposed to close, burrito and taco chain Chilango announced that it was extending its funding initiative.
The company’s founders, Eric Partaker and Dan Houghton, shared:
Hola Amigos!
For the fourth time our top investor slot has changed hands once again, with the top spot now sitting at £280,000. The momentum behind the pitch has been absolutely incredible with a very strong mix of both larger ticket and smaller ticket investment. In fact, the interest has been so strong that we’ve decided to extend the pitch until midnight December 1st for a couple of reasons:
1) In the last couple of days we’ve received A LOT of new investment inquiries, both big and small. We’d love to give these new investors a bit more time to consider the opportunity (and then join in on the round!)
2) As mentioned in a previous update our property pipeline has exploded since announcing our intent to expand nationally. We’re going through over 100 new locations, have already submitted 5 offers as a result, and anticipate submitting a bunch more soon. Having more ammo in the gun will help us jump on these opportunities to accelerate our roll-out.
So if you’re already part of the Chilango family then there’s nothing to do. Just sit tight while we countdown to the 1st. And if you’re considering joining us then there’s a still a seat waiting for you. But ticket sales stop at 11:59pm Dec 1st 😉
Chilango launched its aptly named Burrito Bond in 2014. The mini-bond security offered investors an 8% annual return over a four-year period. A record funding amount for the platform at the time, the company raised £2,160,000 from 749 investors. The offer also combined perks with the security as investors could benefit from discounted / free food at the chain’s outlets.
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