Farmstand, the plant-focused catering business, has surpassed its £750,000 crowdfunding target, as it plans to expand into ten cities in ten years.

The convertible share equity campaign - offering investors a 25% discount on the equity valuation – launched on Seedrs last week, and has already raised £753,220 from 119 investors, with 34 days left to go.

The business is hoping to use the funds to build ten new kitchens in the next ten years, in order to distribute its offer and operate in over 1,000 canteens and outdoor markets across the country.

In 2016, Farmstand opened its central kitchen in Deptford, before launching a debut site in London’s Covent Garden.

Since then, it expanded to a second bricks-and-mortar site in Canary Wharf in February 2019, has five major catering contracts and 12 concessions as well as operating in cafes, mini-stands and an online subscription service in the capital.

According to its fundraising pitch, the group is “disrupting the $200bn catering market, which will double by 2032. Our plan is to be in 1,000-plus canteens and outdoor markets in ten cities in ten years. Your investment will focus only on our UK expansion. We’re also hiring a data scientist, a head of technology and a head of marketing.”