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Grind raises double crowdfunding target in four days

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Grind raises double crowdfunding target in four days

Coffee and cocktail group Grind has smashed its crowdfunding target and raised double its £750,000 target in just four days.

The group announced it was launching a crowdfunding campaign last week to fund its expansion into train stations and airports in partnership with travel caterer SSP, as well as open 10 additional Grind restaurants in the next five years.

Grind met its target within hours of the announcement and is now up to £1.5m. The fund remains open for overfunding, which Grind said will help accelerate growth plans and allow the company to open more restaurants in London. Although it added that the is unlikely to remain open for the full 30 days as planned.

Founder and chief executive David Abrahamovitch said: “Because of this huge interest we’re going to keep the round open to allow as many of you as possible to invest and help us accelerate our growth plans and open more Grind restaurants across the city – setting the business up on incredibly strong footing for 2018 and beyond.

“Thank you all so much for all of your messages of positivity and encouragement. This has been an incredible week for all of us at Grind, and we’ve been overwhelmed by your response to the announcement that we’ll be expanding into airports and train stations with our franchise partners SSP.”

Founded in Shoreditch in 2011, there are five Grind café-bars, four restaurants, a recording studio and a coffee roastery in London. The group opened the Covent Garden (pictured) and Royal Exchange Grinds and roastery off the back of a £1.3m crowdfunded ‘Grind Bond’ in 2015.

Grind to crowdfund expansion into airports and train stations >>

Profits take off at SSP thanks to air passenger growth >>

Grind to open in Clerkenwell >>

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