MKR Property are pleased to have lined up another opening for Neat Burger, this time in Ealing's Filmworks Development.
We are also delighted at the response to Neat Burger over the past few years and their most recent valuation!!
Propel 18th October 2021 - Neat Burger plans further 30 London sites after new funding round: Lewis Hamilton-backed plant-based concept Neat Burger is planning to open a further 30 sites across London, after raising $7m (£5.1m) in a new funding round. The latest raise will also fund international expansion, including moves into the US, UAE and Italy, and product development. It was led by Rajeev Misra, chief executive of SoftBank Investment Advisers, with a $70m valuation, an increase from a $27m valuation last year of Neat Burger. Misra joins existing founding investors including Henrik Fjordbak, former chief operating officer of Joe and Juice; David Yeung, founder of Green Monday; Wellness Holding, founders of Technogym; and Anthony Di Iorio, co-founder of cryptocurrency Ethereum. The company, which was started by Hamilton in partnership with The Cream Group and Beyond Meat investor Tommaso Chiabara, recently opened its fifth site, in London’s Victoria. New restaurant sites to sprout up over the city over the next 12 months include openings in Canary Wharf (November); Westfield Stratford (December); Bishopsgate, Ealing, Kings Road, O2 (January); with Queensway and Waterloo to follow in the spring and further sites to follow in Covent Garden, London Bridge, Clapham, Hammersmith and Shoreditch. Regional expansion is also planned for 2022. The 14 new restaurants will more than triple the brand’s existing brick and mortar portfolio, which currently include sites in Oxford Circus, Soho, Camden and Finsbury Park. The business is also set to open 16 additional delivery kitchens across the capital as of early 2022, made available through Deliveroo and virtual kitchen partner Reef, which is also backed by SoftBank. Hamilton said: “The response to Neat Burger since we opened has been incredible. I’m really proud of the boundaries we have been able to push in this space and the plans for expansion both in terms of sites and delivery are really exciting.” Misra added: “I am thrilled to be part of the Neat team as it continues to develop and expand in the UK – the vegan market is growing rapidly, and it is an exciting time for the brand.” Neat Burger co-founder Zack Bishti told Propel the business is likely to double its head office in the next six months In line with its expansion plans. Earlier this summer, it opened its first regional site, through the Deliveroo Editions in Reading. Talking to Propel in March, Stasi Nychas, co-founder of Neat Burger, said dark kitchens would be the best way for the brand to test the water when it comes to launching outside London. Marc Rogers, of MKR Property, acts for Neat Burger.
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