Grind closes crowdfunding round, hitting £2m cap in less than five days.
Grind announces return to Crowdcube on the back of new agreement to open in airports and train stations.
FOR IMMEDIATE RELEASE - NOVEMBER 2017
Award winning day-to-night hospitality brand Grind has closed it's Crowdfunding round after hitting it's £2m funding cap in less than five days.
Grind announced it was returning to Crowdcube to fund the next stage of it’s growth, and has signed an exclusive new agreement with SSP to launch Grind café-bars in airports and train stations in the UK & Europe.
In partnership with SSP, a leading operator of food and beverage brands in travel locations worldwide, Grind will launch outlets at two major London travel locations within the next 12 months, with a pipeline of additional locations in both air and rail under discussion.
David Abrahamovitch, Founder & CEO of Grind said: “Grind has always been about serving high quality coffee and cocktails to busy Londoners who demand the best – and we’re incredibly excited to be partnering with SSP to bring Grind into airports and train stations nationally for the first time.”
Simon Smith, CEO of SSP UK and Ireland said; “Grind is an outstanding brand and we are delighted to be able to include it our brand portfolio. The concept is great for the travelling consumer looking for excellent coffee and food, as well as for locals who want a meeting place to grab a drink or a bite to eat. It is the ideal complement to our other coffee brands.”
To fund this next phase of growth, after the success of it’s £1.3m ‘Grind Bond’ in 2015, Grind will return to Crowdcube on Thursday 23rd November, allowing members of the public to buy shares in the company for the first time.
David Abrahamovitch commented on the crowdfunding plans: “Since the success of the Grind Bond two years ago, many of our customers and bondholders have asked if they would one day be able to buy shares in the company, and we’re incredibly excited to now be able to offer them this chance. This fundraising will allow us to deliver the next phase of our growth, doubling the size of the business to open ten new Grind restaurants in the next five years, plus at least five café-bars in airports and train stations in the next three years.”
Since opening in Shoreditch in 2011, Grind has since established themselves as a best-in-class operator, burning the candle at both ends to serve coffee, food and cocktails to a killer soundtrack.
Grind’s coffee, roasted daily at their Shoreditch Roastery, is renowned as being amongst the very best in the UK, and their cocktails, particularly the Grind Espresso Martini, which is regularly name-checked as the best in London. Grind also runs a recording studio at the original Grind in Shoreditch, as well as a late-night Club-bar in Clerkenwell.