Healthy eating brand extends campaign after smashing crowdfunding target
HEALTHY eating brand Filmore & Union is extending its crowdfunding campaign for another two weeks after ‘overfunding’ and exceeding its target of £500,000 in less than 45 days.
The company launched its crowdfunding campaign with Crowdcube in May and has raised a total of £654,070 so far from 174 investors, in return for 16.75% equity in the business.
Filmore & Union decided to extend the campaign to accelerate the group’s growth which it says will increase the value of the company for investors and make the business more attractive to a purchaser within the timeframe covered in the business plan.
Filmore & Union was founded in 2011 by Adele Carnell, a former wellness clinic owner, and nephew Will Pugh, a Michelin trained chef, who were frustrated at the lack of healthy, unprocessed food on the high street.
Now operating at seven locations across Yorkshire, the company’s 2014 turnover stood at £3.145m.
Filmore & Union will use the money raised from campaign to help the launch of new eateries across the North of England; making fast, healthy food accessible to more people.
The first new site to open will be a Filmore & Union café, restaurant and bar in Ilkley on in August, closely followed by the biggest Filmore and Union yet opening on Station Parade in Harrogate.
Filmore & Union will then open its first East Yorkshire site in the market town of Beverley early in September.
Ms Carnell, said: “It’s been amazing to have been supported by so many people who love our food and concept and we can’t thank everyone enough for their investment and support so far.
“We’ve not only had support financially in raising our target, but we now have some new board members who are loyal customers of Filmore and will be supporting us in other ways as well as being brand ambassadors. We’ve decided to extend our fundraising period as we’re still getting so much interest so we want to make sure that everyone who wants to has the opportunity to invest in us.”
Craig McKenna, Crowdcube’s investment manager for the North of England, said: “We’re delighted that Filmore & Union have achieved their target. We wish them all the success for the future and can’t wait to watch them continue to grow.”
