Som Saa launches crowdfunding campaign for expansion
The Thai concept opened its first site after raising £700,000 in an earlier crowdfunding move.
Som Saa has eyed to open its second London brick-and-mortar site and future concepts with the launch of a £200,000 crowdfunding campaign through Seedrs.
Its founders, chefs Andy Oliver and Mark Dobbie, has offered 6.91% equity in return for investment, giving the Thai concept a pre-money valuation of £2.69m.
“We believe this will feed through to healthy margin, establish a model for further growth and build a platform from which to explore future concepts such as food halls, grab-and-go sites and takeaway brands,” their pitch read.
“Our new concept will be innovative and exciting with a street food-focused menu. To maximise the number of guests we can serve, we are looking at central London locations with a minimum of 80 seats,” it added.
The concept’s first permanent site in Spitalfields opened in April 2016 after raising £700,000 through a crowdfunding campaign on Crowdcube.
Som Saa has reported a £273,000 EBITDA year-on-year in the year ending October 2019 with a £1.95m turnover.
