Bancone to launch crowdfund campaign to 'kickstart growth plans'
The campaign, hosted on Crowdcube, will launch on Monday 5 December and aim to raise around £700,000. At the time of writing, more than 1,000 people have registered pre-interest.
Bancone (which means ‘counter’ in Italian) was founded by Will Ellner and David Ramsay in 2018 and was part of London's new wave pasta movement that also saw the emergence of brands including Padella and Lina Stores.
It opened its first site in Covent Garden, and followed it up with a second outpost, in Soho, which launched in early 2020.
The crowdfund will feature a tiered rewards system for investors, more details of which will be released nearer to the campaign's launch.
"At Bancone we have a great, passionate, loyal community," Ellner tells BigHospitality.
"What better way to help expand than to involve them. By owning part of the business they get to share in it's success. This will also inspire loyalty and increase the loyalty and advocacy of our customers."
Details of the group's expansion plans remain under wraps, but BigHospitality has been told that Bancone would like to open 'a few' new restaurants next year.
"We are a profitable business - still in organic growth - and we are loved across the board, by media and diners alike," continues Ellner.
"Due to Covid however, we’ve not been able to build up our cash reserves, and we have ambitious growth plans. Through the Crowdcube venture we have a chance to kickstart our growth plans."
For more information and to register pre-interest in the crowdfund, click here.
