Just a little over two years after securing nearly £1.3 million through its equity crowdfunding campaign on Crowdcube, UK coffee and cocktail shop, Grind, has returned to the funding portal and not only raised its initial funding target of £750,000, but it has also surpassed £1 million thanks to nearly 730 investors.
As previously reported, Grind was established in London by coffee enthusiasts David Abrahamovitch and Kaz James with a mission to create spaces for eating, meeting, and drinking. The company shared:
“Founded in 2011, Grind has become one of the most exciting and fastest growing hospitably brands in London. Since its £1.3m Crowdcube bond raise in 2015, Grind has grown to nine locations, plus a coffee roastery in Shoreditch, generating run-rate revenues of £8.5m per year, and like for like sales up 31% for the first 5 months of FY18. The Grind brand punches above its weight and our digital following surpasses many household names like Pret a Manger, Byron and Pizza Express. We have over 90,000 Instagram followers generating 2 million digital impressions per month, and our own mobile ordering app and loyalty scheme with over 22,000 members.”
As part of its five-year plan, the company plans to do the following:
Open 10 new Grind owned restaurants, following the tried and tested all-day all-night experience the company has refined at London Grind.- Expand nationally and internationally, opening 15 café-bars in train stations and airports across UK & Europe with our exclusive franchise partner.
- Launch supermarket-grade coffee tins and other consumer coffee products, bringing Grind into customers’ homes.
Funds from the campaign will be used for the continuous expansion of Grind. It is set to close at the end of December.
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