HOP Vietnamese, a UK-based fresh food concept that is on a mission to showcase a “passion” for Vietnamese colorful food, culture, and street atmosphere, is now set to close its highly successful equity crowdfunding campaign on Crowdcube with more than £1.5 million raised. The restaurant launched the campaign last month and was originally seeking £750,000 in funding.
HOP describes itself as an exciting, quick service Vietnamese fresh food concept with 5 multi-format sites across the city of London ranging from 700 square feet “mini-HOPs” to a 3,000sqft “HOP Café.” The company further explained:
“Our flagship unit is based at the bottom of the Leadenhall Building (aka The Cheesegrater), we operate in all 3-day parts and have also established a strong delivery business catering for home/office/corporate orders.”
HOP then noted that in terms of growth, its FY 18/19 revenue was at £3.8 million. The company further shared:
“We have enjoyed a stable sales pattern on a daily, weekly and monthly basis which is also relatively unaffected by seasonality. We’ve strengthened the team this year, bringing in industry veteran Josh Wyse as co-MD and are in negotiations with one of the leading concessions operators about opening a number of HOPs in transport hubs across the UK. We’re are also in early-stage discussions with a “dark kitchens” operator to expand our delivery capabilities.”
Funds from the Crowdcube round will be used to roll-out of the HOP concept across London. HOP is now offering 9.13% in equity at a £9,118,421 pre-money valuation through the campaign round, which is set to close tomorrow evening.
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