It's all about the power of the people, with restaurant brand M gaining £1.3m of equity crowdfunding yesterday.
Just 24 hours after the London-based brand started its campaign on Seedrs – an online investment site – M had secured near enough all of its £1.5m funding goal. With two locations in central London, M is the fist high-end restaurant group to turn to raise funds via crowdfunding.
With former England Rugby player, Simon Shaw OBE, giving a kicker of a six figure donation, M founder and CEO Martin Williams will use £1.1m for the expansion of M Social – a downscale version of the M concept launching in outer London locations next year. The other funds will be used to add a private members' lounge, M Den, to its Threadneedle street location and support the businesses in both long and short term.
'We have been overwhelmed by the response, with former Manchester United striker Andy Cole; Racing UK CEO Richard Fitzgerald and polo player/Merchant Hub president Thomas Kato just some of the others who have signed up,' said Williams. 'Our success has been built on making fine wines and world class steaks accessible; I wanted to reflect that in our fundraising and to invite our fantastic regular guests the opportunity to be a shareholder in their favourite restaurant.'
If you want to get your hands on some M equity, the campaign is set to close at the beginning of December...