Mon 9th Jul 2018 - Daisy Green Collection smashes £500,000 target in first equity raise to accelerate growth Daisy Green Collection smashes £500,000 target in first equity raise to accelerate growth: Australia-inspired restaurant group Daisy Green Collection has raised almost £900,000 in its first equity raise as it looks to accelerate growth. The company, founded in 2012 by former City bankers Prue Freeman and her husband Tom Onions, has so far raised £886,970 from 103 investors – significantly more than its £500,000 target. Daisy Green Collection is offering 4.70% equity in return for the investment. The funds, which are being raised on crowdfunding platform Crowdcube, will be used to accelerate expansion. The business has grown from humble street food beginnings in 2012 to a collection of nine sites across central London. The independent business has grown revenues at circa 85% per annum over the past four years with the fund-raising set to enable them to open in areas such as Canary Wharf, Liverpool Street, London Bridge and Tower Bridge. The company has a run-rate site Ebitda of £2m. The group is currently achieving run-rate revenues of circa £10m, with site Ebitda margins at about 20%. The company’s business plan forecasts growing to more than 17 sites with revenues of £25m-plus within four years. Multiple sites have been identified and the business will continue to concentrate on its proven approach in central London. Daisy Green has pioneered informal Aussie-style cafe culture through its sites, which range from two Sir Peter Blake-designed floating barges in Paddington to its latest restaurant, Scarlett Green in Soho. Each site displays original art to create a unique ambience and includes work by artists such as Louise Dear, Shuby, Paul Robinson and Sir Peter. The business, currently 100% owned by the founders, raised a £775,000 bond through Crowdcube in 2015, which was oversubscribed within 24 hours. In 2017, its “Bondi Bond” became the first to be repaid as part of a £3.25m refinancing by OakNorth. Following the 4,000 square foot site in Soho, Daisy Green Collection has circa £1m of remaining capital available from OakNorth. The founders have opted to return to the crowd to raise equity for the first time, citing their desire to remain close to their customers. Freeman said: “Following the success of the Bondi Bond, our bondholders and customers have consistently approached us to buy shares in Daisy. We’re delighted to finally be able to say yes and take them with us on the next stage of our journey.”