Beany Green aims for two more sites with £800,000 bond

05 November 2015 by
Beany Green aims for two more sites with £800,000 bond

Coffee and food group Beany Green has launched an £800,000 bond on crowdfunding website Crowdcube to help fund its expansion into two additional central London locations.

The company was founded in 2012 by Australian Prue Freeman and Tom Onions, offering Australian-style flat white coffees and healthy food, initially from a 1985 Ford Transit as part of the Kerb street food collective.

It now runs five central London locations including Broadgate Circle, Little Venice (Paddington), Marylebone, Regent's Place and the Southbank and has a current run rate revenue of around £3m a year.

The four-year bond, known as the Bondi Bond, has already raised in excess of £316,000, which is split among 52 investors, with 43 days left to run until it closes. The minimum investment is £500.

It promises investors a return of 11% per annum, with interest paid semi-annually.

In addition to the interest paid, the bond offers a number of rewards dependent on the amount invested, including 10 free coffees and a healthy lunchtime detox box for investments of £1,000 plus an invitation to a celebration party, while investors of £5,000 get a free coffee every Monday for the lifetime of the bond, and investors of £25,000 are entitled to free coffee or banana bread every day for the life of the bond, plus an exclusive private cocktail party for up to 40 guests.

Beany founder Prue Freeman said: "As we have grown we have always sought ways to engage with our loyal and supportive customers and build a business with them at the heart of it. For us, it's really special to now be able to connect directly through the bond - to share the future and fun together whilst providing a return which we believe is attractive."

Beany Green is the latest in a string of hospitality companies to use crowdfunding as a means to raise finance.

Last year, London-based burrito chain Chilango raised £1m with its ‘Burrito bond', offering investors a return of 8% per annum, and it is currently attempting to raise another £1m this time in exchange of a 3.6% stake in the company.

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