Yolk looks to raise £3m to grow from seven London sites towards 100
The food-to-go brand reports like-for-likes up 12% in a market that fell 3.5%, and every site making money.
London food-to-go business Yolk is seeking £3m to fund its next phase, Propel reports, with a long-term aim of a 100-plus-site estate. The raise is being run through The Raise Room on 12 November.
The numbers it's pitching on - Seven sites, and revenue of around £7m expected this year. - Like-for-like sales up 12% from January to September, against an on-the-go market down 3.5% over the same period (CGA data). - All seven sites EBITDA-positive, with site margins up almost five percentage points year on year. - Positive group EBITDA forecast this year, after a loss the year before.
The plan: open faster across London first, then move into travel hubs and regional cities.
Founder Nick Philpot said eating on the go is "stuck between the big chains, whose food hasn't kept up, and premium challengers at £12 to £15 a main who can't scale beyond the central London bubble".
What it means for growing operators: investors are asking for site-level profit first. Yolk is leading with every site making money and margins rising before talking about rollout, which is the order backers want to see.
Source: Propel (opens in a new tab)
- food-to-go
- investment
- expansion
- funding