Grind unveils plans for more openings with funding round
Grind is set for more store openings and developments in the next 18 months as it returns to Crowdcube this Friday (8 March) for an equity round.
This funding round will allow members of the public an opportunity to buy shares in the company for only the second time its history.
According to Propel Info Grind is targeting 36 sites by 2022 with six new central London venues. It said that 15 of the proposed venues will be franchise sites and it will also relocate its Shoreditch coffee-roasting facility to a larger site in Elephant and Castle.
This is the third funding round and “final planned” for the coffee chain on the Crowdcube platform, Grind said.
It had the success with £1.3m bond in 2015, and record-breaking £2.1m equity raise in 2017.
Grind closed its last fundraising after just five days live to the public, having hit their target just hours after launching.
Earlier this year,, Grind announced the acquisition of Liverpool Street Grind, in Broadgate Circle, which opens later this month.
Grind founder and ceo, David Abrahamovitch, said: “Since raising on Crowdcube in 2017, we’ve continued to expand across London - opening our biggest site to date, Greenwich Grind, just a few months ago - which has been a huge success since we opened the doors. We’ve got a huge amount lined up for the next eighteen months, and couldn’t be more excited to be announcing our return to the crowd.”
Last year, the company debuted its Grind at Home collection - led by some of the UK’s first compostable coffee pods for Nespresso machines.
Grind currently operates high-street restaurants in Shoreditch, London Bridge, Exmouth Market, Greenwich and Clerkenwell, cafe-bars in Soho and Royal Exchange, as well as its coffee roastery in Shoreditch and an international-grade recording studio.
It also operates in-office locations in partnership with Derwent London in Whitechapel and Hatton Garden, and also operates a Grind inside the Facebook London HQ. Grind will be launching several planned travel locations in 2019, in partnership with travel franchise partners SSP.
Headquartered in Shoreditch, the brand, established in 2011 now employs around 250 people.
- Grind founder and ceo, David Abrahamovitch is a member of the European Coffee, Tea & Soft Drinks Expo steering panel
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