FRISKA raise £1.25 million of investment ahead of national roll out
Bristol based healthy fast food chain Friska have secured £1.25 million of investment to open 10 new sites in Bristol, Birmingham and Manchester. The money which has been raised through two angel investors and Santander forms the first stage of the young company’s national roll out plans.
Since opening their first place in 2009, founders Ed Brown and Griff Holland have opened 4 sites across the city building up a great reputation with their globally inspired fresh fast food and speciality coffee. The duo plan to open at least one more Bristol outlet before moving up to Birmingham in early 2015. A similar cluster of stores is currently in the pipeline for both Birmingham and Manchester.
The successful funding round comes on the back of consistently strong financial performance which saw Friska increase it’s sales by 50% between 2013 to 2014. Next year the company is forecast to hit over £2.5 million pounds in turnover coupled with healthy profit margins.
Reflecting on the investment, Ed said “This is absolutely fantastic news for Friska. Since opening in 2009 we have always had big plans and have been focused on growing a successful and crucially, well loved business by our customers and colleagues alike. To see the plan coming together is just fantastic.”
Griff added, “This year really has been the most exciting one yet. Our focus on redefining expectations within our sector is becoming a reality and we can’t wait to open in Birmingham and Manchester. Lunchtimes will never be the same again!”
The deal was overseen by Matt Eves and Peter Doe of Isca Ventures who have previously worked with Loungers Group, Taylor Street Baristas and Parsons Bakery. On successful completion of the deal, Peter said “Friska’s “on the money” customer proposition of feel good food coupled with their efficient operations have enabled the founders to raise significant capital and start their exciting national roll out.”
This news caps off a successful year for the company where they have received several high profile awards: They made the Smarta Breakthrough 50 and have been named a winner in the O2 Smarta 100, topped Business West Insider’s top 42 Under 42, made the Institute Directors shortlist for the South West region, startups.co.uk Young Guns award and came regional runner up for the PwC Private Business Awards for Emerging Entrepreneur of the Year and Private Business of the Year.
The founders are also currently in discussions with an International franchise operator to take Friska to new developments in major leisure and transport hubs. Watch this space!