22nd August 2019
The Korean-inspired fast casual brand CombiniCo, based in Scotland and backed by Salt Yard Group co-founder Sanja Moll, is halfway towards its £200,000 target on crowdfunding platform Crowdcube.
Founded last year by former University of St Andrews students Alex Longson and Juno Lee, CombiCo operates two sites – one of which is a concession – in the Scottish town. It is now seeking to raise funds to open a flagship site in Edinburgh and develop a range of organic bottled tea.
CombiniCo is offering 9.09% equity for the investment, giving the company a pre-money valuation of £2m. To date around 130 investors have pledged over £100,000 with two week remaining.
The pitch states: “During its first year the store generated more than £500,000 sales and £76,000 profit from what is a 20 square metre space with six seats. We have sold more than 70,000 of our signature BiniBowls.”