The Yorkshire Meatball Co. surpasses £100k crowdfunding target

After launching acrowdfunding campaign at the start of March, The Yorkshire Meatball Co. has successfully reached its £100k crowdfunding target.

The Yorkshire Meatball Co., which has restaurants in Harrogate and York, managed to hit the proposed target with three days left to go on the campaign, with the final closing figure reaching a total of £130,650.

The aim of the crowdfunding was to support David and Gareth Atkinson, the co-owners, in diversifying the business’ current offer.

Their three-year plan includes the launch of a range of premium-branded retail products in supermarkets across the country; to further expand the original Harrogate restaurant, adding an outside beer terrace and a bottle shop; and, in addition, adding a further two restaurants to its portfolio.

David said: “First of all we would like to say thank you to all those who invested in our campaign. It’s a great feeling to have achieved our funding target of £100,000 and it’s fantastic that we managed to generate further investment on top of this.

“We are pleased the campaign has been so successful, which proves the popularity and strength in our proposed offer. There has been a range of investments pledged throughout the campaign; the average investment has been over £550, with half of the total investment drawn from pledges of £5,000 or above. Our investors see the potential in what The Yorkshire Meatball Co. can achieve and we are thrilled to have these individuals joining our extended family.”

With over 235 separate investments pledged, the campaign by the Yorkshire-based restaurant and retail business proved a popular choice with Crowdcube investors, with investments ranging from £10 - £10k. Around one third of the final total investment generated from customers based in North Yorkshire and beyond.

Gareth commented: “It means the world to us that so many of our loyal customers have invested out of their own savings. It’s humbling to see our regulars from across the region, and others who have visited us from further afield, so keen to support our campaign and our future plans for the business.

“Our roots will always be in Yorkshire, it’s our home, therefore it’s particularly exciting to see so many Yorkshire folks getting involved and supporting our fight against average, tasteless meatballs in both the food service and food retail market sectors.”

In order to achieve the funding target, David and Gareth offered investors a range of rewards, from vouchers for the restaurants, discounted meal offers, to exclusive investor events. The overall funding of £130,650, from the 237 investors, equates to 15.12% equity of the overall business.

David concluded: “We would also like to take this opportunity to thank the team at Crowdcube for their support, advice and patience throughout the campaign.

“Now we can finally put the wheels in motion to start our exciting growth plans. We truly believe that, as the UK’s first Meatball and Craft Beer Bar, our brand is one of the most promising and innovative casual dining offers currently on the market. We can’t wait to take these next steps into transforming The Yorkshire Meatball Co. into a household name.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →