Chinese takeaway brand Hotcha lands reported £7.5m funding
Chain founded by Young Gun James Liang to launch 10 more outlets by the end of March 2017 to become the “Domino’s of Chinese takeaway"
Hotcha, the Chinese takeaway brand founded by Young Gun James Liang, has secured a funding round reported to be worth £7.5m with backing from Beechbrook Capital.
Launched from a first site Bristol back in 2011, Hotcha currently runs 10 outlets across the West of England and is on a mission to become the “Domino’s of Chinese takeaway”.
Operated from a single call centre, the brand keeps costs low by pre-preparing all its sauces and ingredients in a central kitchen facility, which are then sent out to be cooked on-site.
Hotcha plans to use the investment to open a further 10 stores by March next year as it embarks on a campaign to become the “UK’s first nationwide Chinese takeaway brand”.
Liang commented: “Beechbrook’s unitranche proposal was the perfect fit given our current stage of growth. We have a proven business model and scalable platform within a fragmented market.”
Jon Herbert, managing director of Beechbrook’s UK SME Credit Fund, commented:
“The opportunity to invest in Hotcha is a great example of the demand for flexible growth capital such as ours from UK small businesses.
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“We are highly impressed by what Liang has achieved to date with the business, and we are delighted to be able to support him and Hotcha in its continuing expansion.”