Stem + Glory launches a second crowdfund to open a third site
The company set out to to raise £350,000 for a 15% stake through crowdfund website Crowdcube.
It has now reached its target
The campaign follows the brand’s first successful crowdfund in 2016, which raised £97,000 in 21 days before becoming overfunded.
Hosted by Stem + Glory founder Louise Palmer-Masterton, the campaign has already reached 81% of its funding after having been live for three days.
Stem + Glory operates at a site on King Street and another site on Chesterton Road.
It serves healthy, vegetarian dishes including kimchi pancakes; little gem salad; nut roast; ramen; and raw Japanese nori rolls, to eat in or take away, alongside craft beers and wines.
“We made 15% of our raise in the first three minutes, and were at 50% by the end of the first day - all from our own crowd whilst still in our private phase on Crowdcube,” says Palmer-Masterton, who also runs the million-pound yoga business CAMYOGO.
“Today (Monday 19 March) we go public – at 81% funded. All-in-all a fantastic endorsement of the rise of the plant based movement.”
The company has experienced an 84% increase in turnover year on year. It has won a number of awards, including Small Business of the Year at the 2017 Cambridge Business Awards, and Retailer of the Year at the Cambridge Business Excellence Awards 2018.
Updated: 19.3.18 when target was met
