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Peer2Peer Finance News | August 22, 2017

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Late-night food service Feast launches £150,000 crowdfunding campaign

Late-night food service Feast launches £150,000 crowdfunding campaign
Suzie Neuwirth

LATE-NIGHT food delivery service Feast is looking to raise £150,000 through equity crowdfunding platform Crowdcube, to support its expansion plans.

The company, which launched in late 2015, partners with 24-hour and late-night restaurants in central London. It has seen 160 per cent year-on-year growth in the number of orders and is now planning to expand its geographic reach for deliveries.

“We’re working with some really great restaurant chains including VQ, Balans and Maroush, allowing late night Londoners to order a wide range of food until 5am,” said founder Simon Pusey.

“Currently only people in central London can order from us so we’d like to expand our delivery radius.”

Read more: Funding Circle partners with Just Eat

The money raised will also be spent on developing the B2B side of the business, which is aiming to disrupt hotels’ room service offerings. NightRoomService.com enables hotels to outsource their late-night room service, giving their guests a wide range of food options available until 5am.

“We really want to push on with NightRoomService.com as it’s a really lucrative market and one we’ve cultivated ourselves,” said Pusey. “We currently have more than 80 hotels signed up and we even allow the hotel to take commission on every order that one of their guests places, so it’s a win-win for hotels, guests and us as a company.”

Read more: New crowdfunding training course for business mentors

Recent research from global information company the NPD Group showed that the number of food deliveries in Britain grew 10 times faster than the number of restaurant visits last year. The food delivery industry grew by six per cent year on year and was worth an estimated £3.6bn in 2016, the research said.

The crowdfunding campaign goes live at 9am on Tuesday 25 July. For more information go to: www.crowdcube.com/feast.