Propel Morning Briefing Mast Head CPL Training Link Paul's Twitter Link Subscribe Unsubscribe Web Version Propel Info website Propel Info website Forward Email Star Pubs and Bars Banner Morning Briefing Strap Line
Tue 3rd Sep 2019 - Exclusive: Grind repays Crowdcube bondholders early as part of newly agreed £4.6m HSBC funding
Exclusive – Grind repays Crowdcube bondholders early as part of newly agreed £4.6m HSBC funding: Coffee and cocktail brand Grind has announced a newly agreed £4.6m funding package with HSBC, following its £3.4m Crowdcube equity raise earlier this year. Grind launched on the Crowdcube platform for the first time in 2015, raising £1.3m from 447 investors to fund its first coffee roastery and further locations in London. Grind will repay these early investors in full next week – after four years – one year ahead of the bonds’ expiry. Following the launch of Greenwich Grind in late 2018 and its latest spot, Liverpool Street Grind, earlier this year, Grind has grown to 11 locations in London with “lots more” in the pipeline. In the next six months Grind will open Southbank Grind, just behind the London Eye, and will begin its roll-out in travel hubs with franchise partners SSP, opening Grinds in London Bridge, Victoria and Waterloo stations. These new locations will give Grind a presence at all four of the capital’s busiest stations. Further down the line, Grind will open in Canary Wharf in 2021 and plans to keep growing to 21 company-owned and 15 franchised locations by 2022. Founder and chief executive David Abrahamovitch said: “The support of our original bondholders was a pivotal part of our journey, amplifying the brand and allowing us to build our first coffee roastery and continue our expansion across London. Back then, we only had a few locations and these bondholders took a risk in backing us, and I’m extremely grateful to those who did. Thanks to the continued support of our banking partners HSBC, I’m delighted we are repaying their investment in full, and earlier than planned. With HSBC’s support, plus our recent £3.4m crowdfunding equity campaign, we are stronger than ever, with the funding we need to execute our plan and keep growing across London and beyond.” Crowdcube co-founder Luke Lang added: “Grind's 2015 bond offering, the first of its three high-profile raises totalling £6.8m on the Crowdcube platform, set the bar for British businesses raising money from the crowd. We've been delighted to support Grind through their growth over the last four years, and to see the Grind bondholders repaid early and in full.” Anthony Reed, HSBC’s head of corporate banking, said: “Grind is a brand we have come to know very well, and admire, over our five-year relationship with the business and the team. Grind is a stand-out in the sector, with a clearly differentiated proposition across multiple channels. We are delighted to be building once again on our relationship with the business, and to continue to support Grind’s expansion.” Since its first crowdfunding campaign in 2015, Grind has returned to the crowd twice; with a record-breaking £2.1m equity raise in 2017, and the £3.4m raise in April this year. Earlier this year, Grind relocated its coffee roasting to a new space in Elephant and Castle. Grind’s new roastery has seven times the capacity of its old facility – and will support the growing demand for coffee from its stores and retail range, which includes the compostable Nespresso Pods transported in “Instagram friendly” pink coffee tins. Grind tins are currently available in its own stores, as well on Amazon and in Selfridges, with plans to pilot them with major retailers later this year.


Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Quarterly Spring 2018view online
 
Propel Premium
 
Lowlander Beer Co Banner
 
Funkin Banner
 
Franklin and Sons Banner
 
Lyre's Banner
 
Ei Group Banner
 
Black Sheep Banner
 
Freeths Banner
 
Venners Banner
 
Best Bar None Banner
 
HGEM Banner
 
Zonal Banner
 
Hastee Pay Banner
 
COREcruitment Banner
 
Sky Banner
 
Access Banner
 
Freeths Banner
 
Venners Banner
 
liveRES Banner
 
Pipers Crisps Banner
 
Tahola Banner Tahola web link
 
Lincoln & York Banner
 
Pipers Crisps Banner
 
Punch Taverns Link Punch Taverns Link
Star Pubs and Bars Banner
ALMR Web Link Web Version Unsubscribe Subscribe Propel Info website