Simple Health Kitchen has reached 109% of its crowdfunding target just 24 hours after launching.

The London-based healthy eating concept aimed to reach £750,000 on Crowdcube over a month-long period but has already attracted 124 investors raising £818,950.

Backed by private equity and Venture Capital, the brand has three self-service restaurants and two delivery hubs in the city, and plans to use its latest funding to open eight to ten delivery hubs around London.

Since launching in 2016, Simple Health Kitchen has been growing at a rate of 50% per year. It now has over £240k average monthly revenues and a 12% EBITDA margin. Group revenue for the last 12 months (Nov 19-Nov 20) was £2.9M, and EBITDA was £357k.

The company is offering 7.48% equity in return for investment, giving the business a pre-money valuation of £10m.

The campaign still has 28 days to go.