Mexican restaurant operator, Chilango has raised £2m through crowd-funding to expand its London-based chain of seven outlets with three new sites.
The crowd investors put £2,160k into the Burrito BondTM in return for 8% gross interest per annum during the four year term of the bond. This is the largest amount ever raised on Crowdcube, beating last year’s record set by Hab Housing of £1.97m.
Chilango co-founder, Eric Partaker commented, “The brand awareness and engagement we created, together with Crowdcube, is simply off-the-charts.
“The bond has been a massive success; we not only raised the capital we needed to open our next batch of restaurants, but have also created 749 brand ambassadors to support our growth.'