Eric Partaker, co-founder of UK restaurant chain Chulango, recently hit the studios of SkyNews to chat up their “Burrito Bond” offer listing on Crowdcube. Chilango was the first ever “mini-bond” offer on the crowdfunding platform paving the way for other companies to leverage the internet with debt crowdfunding.
The offer was originally seeking to raise £1 million but as of today the bonds are “overfunding” and show 583 investors have raised £1.789 million on a security that generates an annual return of 8%.
The funds raised will be used to expand their franchise across the London market. Today they have 7 existing restaurants that serve high quality mexican style cuisine including tacos, salads and, of course – burritos.
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