Poncho 8 secures funding for expansion

By Emma Eversham

- Last updated on GMT

Related tags: Mexican cuisine, Tortilla

Poncho 8's new funding option means that the company could open up to 60 sites by the end of 2016
Poncho 8's new funding option means that the company could open up to 60 sites by the end of 2016
Emerging Mexican restaurant chain Poncho 8 has secured funding from a small consortium of private investors in a bid to help it operate up to 20 new stores by the end of 2014. 

News of the funding from the unnamed investors, who have a combined turnover in their respective food manufacturing, distribution and drinks businesses of £100m, comes as the company prepares to open its third site in Leadenhall, London. 

Poncho 8, launched in 2008 by friends Frank Yeung and Nick Troen, gives diners the option of ordering a burrito, a skinny box (salad), a nacho box or filled tacos. Its new investors are expected to take an active role on its board. 

Troen said with its current funding options Poncho 8 could open up to 60 outlets by the end of 2016 without the need for further equity. The company is expected to stay focused on London for expansion. 

He said: “It’s incredibly exciting to have secured such significant investment. Having recently celebrated our third birthday, we’re now looking forward to taking our fresh Mexican food into a further 17 stores by the end of our fifth year.”

Related topics: Business, People, Restaurants, Venues

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