Arc Inspirations, the Leeds-based bar operator, has secured £3m of new funding as its looks to open 20 venues by 2017.
The 11-strong group, which was founded in 1999 by Chris Ure and Martin Wolstencroft, has secured the funding through Satander and has a number of new sites planned for 2015.
Its strategy is to open five to 10 new units over the next five years.
It has invested £1.2m in its latest concept, a New York-themed bar called Manahatta that opens in Leeds next month.
Andy Whelan, finance director at Arc Inspirations, said: “The business has had a fantastic performance over its first 15 years, growing to 11 units with no external funds. Based on our strong and proven business model, we now believe the time is right to work with Santander to accelerate our expansion.”
Turnover is forecast to increase by 65% to £18m this financial year.
The company has recently opened its first bar in Harrogate under the Pit concept that offers traditional American barbeque food with a range of cocktails, wines and craft beers in an urban setting.
