BLOK secures funding round to fulfil its expansion plans
Crowdcube is a leading equity crowdfunding platform for entrepreneurs of start-ups and growing businesses to connect with potential investors. Dedicated to helping UK-based entrepreneurs raise finance to start or grow their business, Crowdcube gives investors real equity in the companies they fund. Crowdcube uses the web-based notion of ‘crowdfunding’ where a community of like minded people pool their money and knowledge together to back an idea, business or person.
BLOK is one of London’s leading boutique class based gyms, combining fitness with art, design, and fashion. The company was founded in 2016 and now has two London sites in Shoreditch and Clapton, with terms agreed for the third site in central Manchester and plans to expand to six UK sites by 2020.
ABOUT THE DEAL
BLOK raised £0.9m from a pool of investors through Crowdcube, valuing the business at £9.5m. The investment round was 118% oversubscribed.
We acted as the exclusive financial adviser to BLOK to prepare, market and successfully execute their required fund raise having a long lasting relationship with the management team. We continue to work with the founders to identify suitable investors for future funding rounds.