River Cottage secures £1m in mini-bonds on Crowdcube to expand its restaurant chain
The food business raised £1m from 283 investors via Crowdcube in less than 36 hours.
River Cottage operates a restaurant and food business focused on seasonal, local, organic and wild produce.
River Cottage has secured £1m through a mini-bond offering on Crowdcube, drawing backing from 283 investors in less than 36 hours. The funding will support the expansion of the company chain of restaurants across the South of England.
The bond offers a fixed annual interest rate of 7% alongside perks for investors, including discounts at restaurant locations. The raise forms part of the platform effort to simplify retail bond issuance for established brands.
The business plans to use the capital to open four additional locations by 2018, building on its existing presence in Axminster, Bristol and Plymouth.
From the founder
"We’re thrilled that the River Cottage Bond was so well received by investors. I am a huge advocate of crowdfunding and this new innovation from Crowdcube helps reduce the cost and complexity of raising finance and provides an effective way for more established brands, like River Cottage, to raise growth funding without the banks."
Rob Love
Co-founder and Joint Managing Director at River Cottage
Investor perspective
"It’s been an exciting time for disrupting the mini-bond market – Chilango’s Burrito Bond was the first to launch and now the River Cottage Bond. We’re determined to make investing more accessible, affordable and rewarding, whilst giving established brands an effective way to source expansion capital and engage with their customers in a more meaningful manner."
Luke Lang
co-founder and CMO, Crowdcube
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
River Cottage
River Cottage operates a restaurant chain and promotes seasonal and local food.