Grind crowdfunds over £2m towards six new sites

By Sophie Witts contact

- Last updated on GMT

Grind crowdfunds over £2m towards six new sites

Related tags: Coffee, crowdfunding

Coffee, restaurant and bar group Grind has smashed its latest crowdfunding target to raise almost £2.3m on Crowdcube.

The company exceeded its initial £1.35m goal when it opened the investment round early to friends and former investors last week.

Grind, which was founded in Shoreditch in 2011, plans to use the funding to grow its 11-strong brand with six new sites.

Confirmed openings include a restaurant at Broadgate Circle in April, a site at South Bank Place - beside the London Eye - this year, and a location in Canary Wharf in early 2020.

Grind has signed a deal with food travel specialist SSP​ ​to open a site each in London Bridge, Waterloo and Victoria stations in Q2-Q3 of this year.

It is also moving in to a new roastery and training space that will provide coffee for all its locations and retail range.

“Beyond this we have an exciting pipeline of opportunities in airports and train stations in the UK and Europe,” says Grind co-founder David Abrahamovitch in a video on the Crowdcube page.

“With these confirmed openings, by April next year we will have almost doubled in size again to 17 locations and almost 400 members of the team.”

Grind previously raised £1.3m on Crowdcube in 2015​, and a further £2.1m in 2017.

Related topics: Business

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