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Filmore & Union almost doubles crowdfunding target

03 August 2015 by
Filmore & Union almost doubles crowdfunding target

Restaurant group Filmore & Union has raised £430,000 more than its crowdfunding target of £500,000, enabling the healthy eating business to accelerate its expansion.

Using Crowdcube, it has raised £931,960 from 317 investors in return for 22.8% equity.

Filmore & Union said the overfunding would allow it to open more sites at a faster rate than planned.

It currently operates seven sites across Yorkshire, offering a wide range of dishes from filled bagels to salads and larger plates such as smoked chicken risotto with chorizo, mango salsa and coconut; and roast hake with a hemp and flaxseed crust, chai tea risotto, endamame and watercress with mango relish and pomegranate dressing.

A new site is set to open in Ilkley next week, followed by Harrogate at the end of August and Beverley in September.

Turnover at the group, founded in 2011 by former wellness clinic owner Adele Carnell and chef Will Pugh, was £3.2m in 2014.

The pair expects to increase turnover by £3.8m and profit by 207% thanks to the funding.

"The majority of our investment has come from our customers which we are so honoured by and can't wait to open up more Filmore & Unions across the region to meet their requests.

"Overfunding has meant we are able to speed up our growth which hopefully means investors will see a return quicker than planned."

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