Chilango has launched its second bond offering, Burrito Bond 2.
Burrito Bond 2 follows the Mexican chain’s Crowdcube campaign in 2014, which closed at just over £2m, double the £1m target.
Over 700 investors backed it, funding the company’s expansion into three new London sites.
The company once again aims to hit an investment of £1m, to support continued growth with a Birmingham site opening within the next few months and additional sites planned in London.
Investors in Burrito Bond 2 will receive a gross interest of 8% per annum with the option to have their principal redeemed in full at the end of the four-year term.
Investment rewards include Chilango gift cards, free UberEats delivery of Chilango orders and the Chilango Green and Black Cards, depending on the level of investment. There’s also a new referral program with rewards ranging from Spanish lessons to skydiving.
“While many casual dining chains have experienced difficult times as of late, Chilango’s quick-service concept is posting its best results ever in its 11-year history, with positive like-for-like sales of 5.3% and all its restaurants profitable,” says Chilango Co-CEO and co-founder Eric Partaker (pictured right). “The UK is riding a Mexican wave and Chilango looks forward to welcoming another round of Investors and brand evangelists into the family.”