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Redemption Bar hits crowdfunding target

27 April 2018 by
Redemption Bar hits crowdfunding target

Vegan, sugar-free, wheat-free and alcohol-free restaurant company Redemption Bar has hit and exceeded its £300,000 crowdfunding target to fund two new openings.

The campaign launched on 14 March with the aim of raising £300,000 (equivalent to 10.71% equity). It had raised more than £315,000 at the time of publication.

Money raised will go towards the opening of two new London sites, one in Covent Garden and the other at Southbank Place, with a future goal of global expansion through franchising.

Former Virgin brand director Catherine Salway and New Zealand restaurateur and raw vegan chef Andrea Waters created Redemption Bar with the aim of providing diners with an opportunity to "spoil yourself without spoiling yourself".

Salway and Waters already have sites in Notting Hill, which opened in August 2015, and Shoreditch, which opened in January 2016.

Salway said: "We are delighted to have reached our funding target - some amazing forward-thinking investors have helped us to spread our wings and fly. We can't wait to get more sites open."

Redemption Bar launches £300,000 crowdfunding bid to fund expansion >>

Vegan coffee shop crowdfunds for new site to avoid closure >>

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