By Daniel Hunter
MasterChef finalists Dale Williams and Larkin Cen, who recently starred in a BBC Wales documentary series following their quest to launch their own restaurant, are looking to raise £275,000 through equity crowdfunding platform Seedrs.
Williams and Cen are looking to share 25% of Hokkei which aims to flip Chinese takeaway food on its head and remove the stigma attached to takeaways being unhealthy and unadventurous.
The campaign, which is already live on Seedrs has drawn the attention of more than 160 investors including Go Compare co-founder, Hayley Parsons, who has invested £50,000 of her own money for around 4.5% of the business.
With £225,000 already committed to the campaign, Seedrs is on course to smash through the £1 million milestone.
Upon completion of this round the total amount invested in Welsh businesses through the Seedrs platform will be more than £1 million after six successful fundraising rounds. This includes Veeqo, a Swansea based tech startup, which previously raised £700,000 through the crowdfunding platform including investment from New Look founder, Tom Singh.
Additionally, Fuzmo, an image sharing service aimed at animal lovers, initially turned down an offer on BBC’s Dragon’s Den and instead raised investment through Seedrs.
Jeff Lynn, CEO at Seedrs said: “We’re proud to be on the cusp of raising £1 million for Wales based businesses. Wales has become a hotbed for innovative start-ups and these businesses have selected Seedrs to raise investment because of our ‘equity crowdfunding done properly’ approach.
“We’re hoping to use this milestone, and our new relationship with Impact Innovations, as a launch pad to raise more capital for Welsh businesses and believe that equity crowdfunding can help these companies to fulfil their growth ambitions.”
The UK alternative finance market is predicted to grow to £4.4 billion in 20151 up from £1.7 billion in 2014 as businesses increasingly look to source more efficient ways to raise capital.
Between 2012 and 2014 the equity crowdfunding sector alone grew by 410%. Against this backdrop, in the past three years Seedrs has become the most successful equity crowdfunder in Europe, funding 110 deals in 2014.