Australian coffee chain Beany Green kickstarts ‘Bondi bond’

Independent Australian coffee shop chain Beany Green has launched an £800,000 “Bondi bond” on equity funding platform Crowdcube to help finance their expansion to two additional locations in central London.

The bond is the first opportunity for investors to get involved with the company, which to date had been funded exclusively by its founders and an insignificant bank loan. In the first 24 hours since its launch, Beany raised in excess of their £300,000 minimum target.

The four-year investment, which carries an interest rate of 11% a year and a minimum ticket size of £500, also offers Beany enthusiasts impressive rewards based on their level of investment: for £5,000, backers will be entitled to a free coffee every Monday for the duration of the bond and be invited along with three guests to attend a “bottomless weekend brunch”; while £25,000 will get investors free coffee or banana bread every day for four years as well as an exclusive private cocktail party for 40 guests at Beany Green’s Daisy Green location.

The offering follows solid top-line growth for the restaurant chain over the last three years, which has led to an increase in its revenues to £3m.

Beany founder Prue Freeman said: “As we have grown we have always sought ways to engage with our loyal and supportive customers and build a business with them at the heart of it. For us, it’s really special to now be able to connect directly through the bond – to share the future and fun together whilst providing a return which we believe is attractive.”