Sourced Market, the artisan produce shop, delicatessen and cafe in London’s St Pancras station, has raised 61% of its £750k crowdfunding target in just 10 days.
Set up in 2007 by founders Ben O’Brien and Dan O’Neill, Sourced Market launched an online investment crowdfunding platform, CrowdCube. The plan was to raise between £750k and £1.5m in a bid to open already-secured sites in London’s Victoria and Marylebone next year, and more into 2017.
Public investment was so forthcoming, £458k has been raised across 84 investors having only opened the crowd funding account 9 days ago.
The company is offering a minimum investment option of £500 per investor, offering an 8% interest rate across a four-year term. Other ;thank you' rewards will include luxury hampers, invitations to events, and branded discount “Blue Cards” to its shops.
The company started as a musical festival stall selling produce from independent food producers before becoming a permanent fixture in it's St Pancras location in late 2009.
Co-founder O’Brien commented on the new bond, saying, “This is a fantastic opportunity for our growing and loyal customer base, and members of the public, to participate in our growth story and in turn, the growth of the small suppliers we stock.'
Recent financial results to September this year, sales have increased by 14% year on year.