Tossed, the healthy food to go concept, has raised more than half of the £750,000 it is seeking through crowdfunding.
The company has also agreed terms on a 1,600 sq ft site in “a prime City location” for its 16th company store and the 25th Tossed in total.
Finance director Neil Sebba said more than £100,000 had been pledged since an investor event last week.
He said: “To get to 50% is great, not just because it’s the halfway point, but because traditional Seedrs investors tend to want evidence that this has got legs before they commit, and hopefully getting to this point will provide that proof. We are learning more and more about crowdfunding all the time and it seems there are certain trigger points.”
He added: “We are really pleased with how it is going because there haven’t been many crowdfunding pitches going for equity at this level. Debt seems to be the way most people have gone.”
Sebba said until now up to 75% of investment had come from Tossed guests with the rest from traditional Seedrs investors.
The largest single investments so far are £20,000 – from chairman Rod McKie and Ben Johnson, the company’s stainless steel manufacturer.
Sebba said the group had not had any serious discussions about what would happen if the group over-funded but said if another £250,000 was secured it would mean a reduction in lending and another site.
