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Tue 3rd Nov 2015 - Chilango raises £1m in eight days on Crowdcube, Just Eat
Chilango raises £1m on Crowdcube in eight days: Mexican brand Chilango has raised £1m on crowdfunding platform Crowdcube in eight days – the company previously raised £2m through a mini-bond. The company is offering 3.26% of its equity for £1m – so far, £1,008,430 has been raised from 460 investors with 18 days left. The pitch states: “Chilango is an award-winning chain of nine, soon to be ten, quick-service Mexican restaurants based in London. Last time we went out to the crowd, over 700 people gobbled up our Burrito Bond, investing over £2m into the company. Now, we have our eyes set on a bigger prize, as we gear up to open Chilango in cities throughout the UK, and even internationally. Your investment in Chilango will go towards this next phase of our journey, helping us open new restaurants in the UK, while we continue to pursue our first international partnerships. Several existing and former industry executives have already invested in the round, including the chairman of Carluccio’s, the former chief executives of Domino’s Pizza UK and Krispy Kreme UK, the international business development director of Jamie Oliver Restaurant Group, the former managing directors of Costa Coffee and Itsu, and the former vice-president of marketing for McDonald’s UK. Over 20,000 people a week visit our restaurants to enjoy a range of tasty meals including burritos, tacos, nachos, and salads. Chilango combines the flavours and quality you traditionally associate with a sit-down restaurant with the speed, price-point, and convenience you look for in a quick-service restaurant. The best of both worlds. Over the next five years we’re planning to reach over 50 restaurants, by continuing to grow in London while also looking at potential locations in over 20 other cities throughout the UK. In parallel we’re also planning our first international partnerships, to bring Chilango to other parts of the globe. Long-term we believe Chilango is a multi-billion pound brand in the making, and we have an incredible group of deeply experienced investors that support us in our vision.”

Just Eat reports accelerating demand: Just Eat, the leading digital marketplace for takeaway food delivery, has increased its revenue guidance for the full year. The strategy of ongoing investment in technology and marketing to drive order growth has delivered orders ahead of management expectations with an acceleration in order momentum over the period. The Third Quarter saw a 64% increase in order growth and 48% increase in like-for-like sales. It reported accelerated UK order growth of 50% year-on-year (H1 2015: 49%), benefitting marginally from poor weather over the summer. More than 74% (H1 2015: 69%) of UK orders in Q3 were made via mobile devices, of which more than 41% were by app (H1 2015: 38%). It doubled the number of UK restaurants trialling ‘order on its way’ notification to 600, and launched Partner Centre apps – dedicated management tools for restaurant owners. Given the strong order growth in the Third Quarter, and our increased confidence going into the Fourth Quarter, management increases its revenue expectations for the full year to slightly above £240 million, up from the £230 million guidance issued in August. Supported by this improved revenue performance, the Group continues to drive growth with increased investment in areas such as improving the customer experience, bringing greater choice to our consumers and driving the channel shift to mobile. As such Ebitda for the full year remains on track and in line with current expectations. Chief executive David Buttress said: “Just Eat delivered a strong quarter of organic order growth. Our strategy of investing in technology and marketing to drive growth has delivered orders ahead of management expectations with an acceleration in order momentum. In the context of this performance, we are raising our revenue guidance for the full year. I would like to thank the whole Just Eat team for their hard work and commitment in delivering these excellent results.”

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