Pi pizzeria crowdfunding £500,000 ahead of opening new site in south London
Pi pizzeria in Winchester is hoping to raise £500,000 through investor platform Growthdeck ahead of launching a new site in south London.
Kevin Bacon, co-founder of Frankie & Benny's, and Kim Hayward, senior partner at BDO accountants and business advisers, are also set to join the company's board.
The £500,000 is offered to investors in two strips - £250,000 of EIS-qualifying equity and a secured loan of £250,000 paying interest of 8% per annum. The equity strip offers investors the prospect of 8.3x money return after the benefit of 30% initial income tax relief.
The concept offers 20-inch sharing pizzas where customers can choose up to three flavour combinations, with the pizza served on a raised wooden board in the middle of the table. Everything is freshly made on site, including Pi's signature dough, which is fermented over 72 hours.
Founder and managing director Rosie Whaley comes from a fashion background and spent time working in Florence to gain insight into how pizzerias operate in Italy.
Gary Robins, head of investment at Growthdeck, added: "Rosie's created a great concept with Pi and the business has made impressive achievements in a short space of time. With Pi, we have an innovative offer for investors - equity, loan, or both. It's your choice - equity and debt can be selected separately, so you can build your own mezzanine investment."
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