Chain seeks £750k funding to accelerate expansion

Tossed Baker Street

Healthy eating chain Tossed has announced plans to raise £750,000 on equity crowdfunding platform Seedrs as it offers its guests and fans a first opportunity to share in its success. 

The business has already secured 24 sites, including six motorway service stations and three in Dubai, and is looking to expand into more locations soon.

Its shops include key West End and London City locations, such as Covent Garden, Liverpool St and Baker St, and it also operates in both Westfield shopping centres and Bluewater in Kent.

The brand employs over 250 people, and its sales grew over 30% in its last financial year.

Tossed will use the funds raised through the new issue of ordinary shares to accelerate its store opening programme, targeting high street, retail and motorway locations in London and the South East, while it continues to seek to expand internationally.

It has brand partners who offer access to sites in airports, railway stations and the motorway network of the UK, and its partner in Dubai has secured three locations this year, including one the Palm Jumeirah and another in the Airport Freezone.

Founded by Vincent Mckevitt, Tossed opened its first store in Paddington in 2005. Mckevitt said: “We believe there is a place for a healthy food operator amongst the big players in the food industry, and that Tossed should be that challenger brand. By increasing store numbers, we will reach a wider market and offer a healthy choice to more people.”

Rod McKie, CEO of Welcome Break which operates Tossed in motorway service stations, said “Tossed was the missing piece of our jigsaw, to have a really great brand that delivers healthy fresh food. Bearing in mind we have an 80 million footfall, a lot more people are going to get to know about it.”

Two years ago the business secured £1.5m funding from Santander, which remains supportive of the business and its growth plans.

Investments will be made through Seedrs, the largest crowdfunding platform in Europe that focuses solely on equity investments. Investors can invest as little as £12.33 for one ordinary, voting share, and the following perks are available: 20% off each purchase for one year for £200 or more; 50% off each purchase for one year for £2,500 or more; 50% off each purchase for life for £5,000 or more (for life of the investment).

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