Taylor St Baristas secures £1.9m via Crowdcube mini-bond to fund expansion.
The speciality coffee chain surpassed its £1.5m target with backing from over 500 investors.
A London-based speciality coffee house chain operating multiple cafes. It provides high-grade coffee and related merchandise.
Speciality coffee house chain Taylor St Baristas has raised £1.9m through a mini-bond hosted on Crowdcube, surpassing its initial £1.5m target.
The raise attracted 504 investors, comprising both the company's own customers and members of the Crowdcube platform. Bondholders will receive an 8 percent fixed rate interest per annum over a four-year term, or alternatively may elect to take their dividends as store credit for coffee at a 12 percent equivalent rate.
The capital will support the company's objective to double its business size over the next two years. Funds will be allocated towards expanding its barista training programme and growing retail sales of branded coffee and merchandise both in-store and online.
From the founder
"Crowdcube gave us the opportunity to offer our customers and supporters a safe, efficient and robust platform through which they could invest in Taylor St, reducing our administrative burden and allowing us to reach a wider base of investors."
Richard Shaer
CEO at Taylor St Baristas
Investor perspective
"Established businesses that have large, regular customer followings are realising that our retail bonds offer an ideal option for raising growth capital. We are getting enquiries from all sectors, including some familiar household names, so the public will have plenty of exciting opportunities to get involved in the coming year."
Luke Lang
co-founder and CMO, Crowdcube
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
Investors
Categories
About the company
Taylor St Baristas
Taylor St Baristas operates a chain of speciality coffee houses.