Pizza Rossa exceeds crowdfunding target

26 January 2015 by
Pizza Rossa exceeds crowdfunding target

Pizza Rossa, the pizza-by-the-square-slice concept, has exceeded its target to raise cash for expansion on the crowdfunding website CrowdCube.

The company, which currently has two sites in the City, raised a total investment of £150,310 from 105 investors.

The news comes seven days before the end of the campaign, which offers an equity stake in the company. Investments may be eligible for EIS (Enterprise Investment Scheme) tax relief, subject to the investors' personal circumstances.

Pizza Rossa founder Corrado Accardi said: "We are delighted with the result. Our product, pizza-al-taglio, has a very strong foundation and we are growing steadily and according to plan. This is the second crowdfunding round for us, and each one has been a success. The new capital will support expansion opportunities, including presence at street markets and food festivals, and the development of a franchised model."

Meanwhile, a new range of grab-and-go foods has been added to the core offer of pizza by the square slice, with freshly cooked pasta, salads, cakes and pastries. Joining the dedicated pizza chef are two new chefs, one specialising in salads and cold food and the other specialising in regional Italian cakes and pastries.

Accardi predicted that in 2015, breakfasts would move away from the traditional British breakfast to a "sweeter" and more continental offer, but with an eye on taste.

Pizza Rossa has a long-term pop-up at 4-12 Whittington Avenue, on the corner of Leadenhall Market, and a permanent site at 168 London Wall.

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