Finnish burger chain Friends & Brgrs’ closed on Wednesday its funding round five weeks ahead of plans after investors commitments topped the upper limit it has set for the shares issued.
The offering for shares in “fresh casual” restaurants was planned to last until December 20, but it was fully subscribed within one week of the public announcement. The company now has over 500 shareholders in eight different countries.
“We’re very happy and thankful for the enormous interest in Friends & Brgrs,” said CEO Peter Fagerholm.
In the coming years, Friends & Brgrs plans to open 2–3 new restaurants annually, with the goal of increasing sales threefold within three years.
Friends & Brgrs has grown rapidly and is expected to reach sales of 6 million euros in 2016. Friends & Brgrs currently operates five restaurants in Finland and Denmark.
