The money has been raised by placing 20m new shares at 30p each on the Alternative Investment Market (Aim).
Half of the money came from Phillip Kaye, father of Adam and Sam and himself founder of the Garfunkel's chain, who is a consultant to the company and uncle of Jonathan Kaye. Jonathan put in a further £167,000 and fellow director Michael Carlton more than £13,000.
Prezzo currently has 16 outlets.
• Philip Kaye has just sold two million shares in Ask Central, his sons' restaurant company, for £2.5m. The sale still leaves him with 6.5 million shares in the company, 6.9% of the total stock.