The Daisy Green Collection, which serves an all-day Aussie Brunch across its 11 London locations, raised almost 200% of its crowdfunding target in less than two hours this morning as part of its second EIS equity capital raising on Seedrs.
The group has extended its initial target of £1m, and hopes to now raise around £2m in equity capital, with more than £1.7m raised in pre-commitments over the weekend.
The group hoped to raise around £2m in equity capital and the initial target of £1m has been extended, with more than £1.7m raised in pre-commitments over the weekend.
Revenues at the business were up 67% on pre-pandemic levels with run rate revenues and site earnings before interest, tax, depreciation and amortisation (EBITDA) of over £15m and £4.4m, respectively. Funds from the group's third crowdfund will be put towards accelerating its growth across the capital.
Founder Prue Freeman grew up on a sheep property in rural Australia. In 2012, after moving to London she quit her job in the City to sell flat whites and banana bread from a pop up market stall outside the Gherkin. Over the last decade the Collection has consistently grown at over 30% per annum to include sites such as Darcie and May Green, the 50-metre-long Sir Peter Blake canal boats in Paddington.
Freeman said: "We're astounded by the support that we've received for Daisy over the last 18 months. To emerge from the pandemic bigger, stronger and more in demand than ever gives us confidence in our ambitious expansion plans."
Photo credit: Leyla Kazim