With less than one week until its equity crowdfunding campaign comes to an end, burrito & taco chain Chilango has successfully secured over £1.8 million dollars.
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.
During a recent update, founders of Chilango Eric Partaker and Dan Houghton, announced that the company has set a new crowdfunding record:
“We haven’t even finished the raise yet and already we’ve set a new record. Last time around we had just over 700 investors when we closed our Burrito Bond. And now? Now we’re at almost 900 investors in the current campaign. And that’s a record number of supporters for us in a single raise… a raise that hasn’t even closed yet!
“And why are we so happy about the number of investors? Because crowdfunding for us is as much an exercise in brand-building as it is fundraising. So while our Crowdcube listing may describe the nearly 900 people as “Investors so far” we prefer to call it “Brand ambassadors so far”… each with a stake in the future they’re helping create. So hat’s off to all ~900 of you. A big part of our positioning is being the public favourite, and we believe the public is making their preference loud and clear with the strength of this campaign.”
Chilango presently operates 9, soon to be 10, Mexican restaurants around central London and has won several awards for its food, including “No. 1 Mexican restaurant” in the Zagat Survey, “London’s Best Burritos” in Time Out, and “Best New Chain Restaurants Around the World” in Condé Nast Traveller.
The campaign is set to close at the end of this week.
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