Monty's Deli set for expansion after smashing its second crowdfund

07-Sep-2018 - Last updated on 26-Apr-2021 at 16:18 GMT

Jewish deli-inspired restaurant Monty’s Deli has ended its crowdfunding campaign, having raised almost £66k above its £150k target.

The restaurant launched the campaign on investment crowdfunding platform Crowdcube on 27 July, having previously financed the opening of its first bricks-and-mortar site through a Kickstarter campaign which was also overfunded.

The salt-beef sandwich specialist will use the £215,230 investment, which has come from 319 backers, to finance its expansion across London at a number of market sites.

The expansion will kick off with an opening at the Victoria iteration of Pitt Cue founder Simon Anderson’s Market Halls.

Monty’s Deli founder Mark Ogus confirmed on the restaurant’s Crowdcube discussion board that the contract for the Victoria site has been signed, and that construction and design is already underway. A second Monty’s Deli opening is expected in Febrary, when Market Halls will launch its flagship site in Oxford Circus.

Ogus also used the Crowdcube page to recruit hospitality staff, calling on proficient hospitality workers to contact the company.

Owned by founders Mark Ogus and Owen Barratt, Monty’s Deli currently operates a site on Hoxton Street and a site in the Kitchens development in Old Spitalfields Market.

In October 2016, Monty’s launched its first public crowdfunding bid for £50,000, reaching one fifth of its target within 48 hours. By the November deadline it exceeded the target, raising £52,086 from 789 backers.