Grind plans to triple in size with £4.6m funding

By Sophie Witts contact

- Last updated on GMT

Grind plans to triple in size with £4.6m funding

Related tags: Coffee, crowdfunding, Restaurant

London hospitality group Grind is planning more than triple its number of sites after securing £4.6m funding from HSBC.

The company has opened 11 diverse locations acting as restaurants, coffee shops and bars since it was founded in Shoreditch 2011, supported by £6.8m raised on crowdfunding platform Crowdcube.

Now it is looking to grow to 21 company-owned locations and 15 run with its franchise partner SSP by 2022.

In the next six months Grind will open on London’s’ South Bank, just behind the London Eye, and begin its rollout in to travel hubs with SSP, launching in London Bridge, Waterloo and Victoria stations.

A further Grind will open in Canary Wharf in 2021.

“With HSBC’s support, plus our recent £3.4m crowdfunding equity campaign,​ we are stronger than ever, with the funding we need to execute our plan and keep growing across London and beyond,” says David Abhrahamovitch, Grind founder and CEO.

Grind's first crowdfunding campaign in 2015 raised £1.3m from 447 investors​ to help the company expand. It will use the HSBC funding to repay them in full next week, one year ahead of schedule.

In 2018 the company branched out with the launch of its first Grind at Home retail collection, offering compostable coffee pods compatible with Nespresso machines.

Related topics: Business & Legislation

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