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Restaurant chain SteakOut gunning for £400k in new crowdfunding campaign

London restaurant chain, SteakOut, has launched a new £400k crowdfunding campaign on Crowdcube as it angles at further expansion.

The steak specialists, founded by Kaysor Ali, are hoping to use the crowdfunded cash to open a new flagship store in Stratford as well as upgrade its meat cutting facilities to allow it to roll out across the UK.

Opening its first restaurant in 2008, the chain now has eight restaurants across the South East including Tooting, Slough and Luton.

According the SteakOut’s Crowdcube page, founder Kaysor is hoping to turn steak into ‘the next big thing in casual dining’, and take a bite out of the £46bn eating out market in the UK.

In a statement on the campaign’s Crowdcube page, the chain said: “We’re looking for investors who love getting involved and becoming a part of the Steakout story.

“The proceeds from this fundraising will help greatly to speed up our expansion. Aside from the mentioned upgrade to our meat cutting facility we plan to invest into a new flagship store in Stratford that we’ve managed to secure.

“The construction of this store has begun already, funded out of company profits. In addition, we want to invest to build up our management team in the areas of franchising and operations to enable rapid growth.”

Currently (Monday), the crowdfunding effort sits at 20% of its target with 18 days of the campaign remaining.

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