London-based speciality coffee roaster and wine bar launches £600,000 fundraiser on Crowdcube platform
Potential investors are being offered 5.66% equity as part of Notes’ latest investment drive. The coffee shop’s pitch on crowdfunding platform, Crowdcube, states “Notes is a growing coffee shop and wine bar concept, which has established itself as one of the market leaders in London’s quality coffee market...
"Since our last Crowdcube raise in 2015, we have opened four locations, doubled our revenue to almost £5m (£0.2m Ebitda), increased site Ebitda by three times and expanded our roastery, which now produces more than one tonne per week for Notes and our wholesale partners.”
Speaking to World Coffee Portal, Notes co-founder Robert Robinson said the 9-strong coffee shop brand was seeking open new sites, grow the roastery and invest in marketing.
"It is day two and we are already 97% funded, so we are thrilled with the response of our existing crowdfunders and new investors. We are excited to implement our expansion plans over the coming months so more coffee lovers can enjoy Notes,” he said.
Robertson also revealed plans for a Notes coffee pod to be released later in the year.
Crowdfunding has a become a popular method of raising expansion capital for London’s speciality coffee shops. In 2015 all-day dining and coffee shop chain, Beany Green exceeded an £800,000 funding target in less than a week to fund two of its central London sites.
Fellow speciality coffee shop, Grind, has also found success with crowdfunding, raising £1.3m with its ‘Grind Bond’ in 2015.