Notes, a growing coffee shop and wine bar concept, is now nearing £1 million from 630 investors through its equity crowdfunding campaign on Crowdcube. The funding round was launched last month and quickly surpassed its initial £600,000 funding target. The company previously raised a total of £908,400 through its first Crowdcube initiative in 2015.
Starting from a coffee cart in 2010, Notes Coffee revealed it now sources and roasts its own single-origin coffee, serving over 1.4 million cups a year. Notes also stated that since its last Crowdcube round it has opened four new locations, doubled its revenue to nearly £5 million (£0.2 million EBITDA), increased site EBITDA by three times and expanded its roastery, which now produces over 1 tonne per week for Notes and its wholesale partners.
“Notes is a collection of coffee shops and bars serving Notes speciality coffee, craft beers, well-chosen wines and classic cocktails, all with a signature Notes twist. Speciality coffee with soul, roasted under the meticulous eye of Fabio in Notes East London Roastery. Our coffee beans are always direct trade straight from the farmers who take as much care in nurturing their coffee plants as we do roasting and brewing our beans.”
All funds from the Crowdcube round will be used to continue Notes’ expansion. The company noted that it is planning to keep the campaign up for only a few more days.
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