Fast growing bespoke burrito and taco chain, Chilango, has successfully raised its initial £1 just a little over a week on Crowdcube.
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.
The company announced in a recent update that former CEO of Domino’s Pizza UK, Chris Moore, invested in this round:
“We believe the world’s best brands can be summed up in a single word or essence. Nike screams competition, Disney is all about happiness, Apple for us is about simplicity. That single one-word distillation for Chilango is vibrancy… and as a sentence we say we exist to brighten up your day.
“As simple as that sounds, the strength and clarity of our brand has most certainly propelled us to where we are today. It guides our marketing communications and menu development (only bold robust flavours stand a chance with us); it guides our hiring, reward & recognition, and training (we even added an audition element to our interviews); and it guides our interior design (now you understand the “why” behind the neon and graffiti throughout our restaurants). All of these factors combine under our rallying cry of vibrancy.
“We believe our brand identity, and its execution throughout the company, is an incredibly strong intangible asset, that’s incredibly hard to replicate. And it’s certainly a reason why we’re quickly approaching £1.2 million, raised from nearly 600 people!
“One of those people is Chris Moore, the former CEO of Domino’s Pizza UK. Chris invested in Chilango, and this round, for a variety of reasons – including the strength and clarity of our brand.”
Check out Moore’s thoughts about Chilango below.
The campaign is set to close in 2 weeks.
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