Better pizza concept, PizzaLuxe has hit its crowdfunding target of £300,000

The crowdfunding campaign has hit investment of £373,580 from 129 investors so far. The target is £300,000 for 24.25% of equity offered.

The campaign was extended until 5th April to coincide with the end of the tax year and the target was lowered from £500,000 to £300,000.

The company hopes to use the investment to fund the expansion of PizzaLuxe and the refurbishment of existing sites. A third flagship store in Shoreditch is scheduled to open in Spring 2015.

PizzaLuxe believes it is ideally suited to non-traditional travel-hub and retail environments, due to the small footprint (c. 100-150 sq ft) and low capital intensity. It estimates that a significant Take & Bake/Heat & Serve business with up to 50 openings per year over 3 years 2015-2017.

The crowdfunding page on CrowdCube suggests £500,000 of investment will provide for two new openings during 2015, which will be targeted in Shoreditch (opening Spring 15) and a Central London food destination. Further core store openings are shown in the financial projections to take the estate to 12 units in 5 years.

PizzaLuxe was founded by the previous director of restaurants at Harrods, Paul Goodale.

 

http://eatoutmagazine.co.uk/pizzaluxe-hits-£300000-crowdfunding-target

 

By | 2017-08-11T11:28:56+00:00 February 4th, 2015|News|