Shopping centre champagne and cocktail bar concept Oh You Pretty Things has raised £300,000 of a target £750,000 to fund growth to 15 sites over the next two years.
The currently four-strong estate, led by Norris Panton and Craig Ince, is set to open its first site with ‘a major retailer’ on Oxford Street this month and says it has 10 further sites lined up with the same department store over the next 24 months with the anticipation of a further four becoming available in 2020. The group said it would also look at other growth opportunities during that period.
The group is seeking to raise £750,000 through the Growthdeck peer-to-peer lending platform, for a 20% stake in the business.
Its pitch states that revenue to October 2016 was £1.8m, with a pre-tax profit of £128,000. This is projected to rise to £2.4m and £325,000 respectively this year and to £13.7m and £3m by 2020.