Member Article

Shoreditch Grind owner smashes funding target securing £1.3m investment

Grind, the independent coffee and cocktail bar behind Shoreditch Grind, has secured over £1.3m in funding through a mini-bond on crowdfunding platform Crowdcube – smashing its initial target of £750k.

The bond, which was launched in June, was contributed by 467 investors and will fund the construction of a state-of-the-art London roastery, as well as the expansion of the group.

Grind founder and CEO David Abrahamovitch said: “We were overwhelmed by the outpouring of support from fans of the Grind across London. It’s incredibly exciting to start the next stage of our ambitious growth plans and take control of our supply chain.”

Luke Lang, co-founder of Crowdcube commented: “Grind is the latest in a string of businesses to raise in excess of over £1 million on Crowdcube, demonstrating the crowd’s eagerness to invest in great British businesses.”

During the bond pitch, Grind announced that they will be launching their own App and became one of the first businesses in the UK to accept Apple Pay when the service launched.

Founded four years ago by young entrepreneur David Abrahamovitch and musician Kaz James, with Shoreditch Grind, the group has since launched four sites with a fifth site in Covent Garden confirmed for opening late 2015.

This was posted in Bdaily's Members' News section by Ellen Forster .