Vegan fast food outlet Neat Burger, backed by Lewis Hamilton, has secured a strong haul of investment in its latest funding round, raising $18 million.
With the seven-time Formula 1 world champion’s support, the restaurant chain has gained support from LionTree and Real Madrid, being valued at $100 million.
The new funding will be put towards expanding the number of outlets the chain has, with another US location and three more London restaurants on the cards within the next two years.
Led by private investment firm B-Flexion, the restaurant chain fits perfectly into their focus on sustainable investments.
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“I love how Neat Burger is on a mission to make plant-based eating more accessible to everyone. Our generation is paving the way and driving this change, with research showing once Gen-Z adopt a vegan or flexitarian diet, 70% stick with it,” Chiara Bertarelli, from B-Flexion, said.
Neat Burger co-founder Zack Bishti had paused the company’s expansion plans after spiking inflation put pressure on the company, as with other businesses around the globe,
“We’re just scratching the surface of the biggest food revolution we will ever witness,” Neat Burger co-founder Tommaso Chiabra added.
“We are thrilled to have reached this major milestone in Neat Burger’s journey with a successful fundraise from previous investors alongside an impressive group of new investors. This is a pivotal moment for our business, and it allows us to accelerate our growth plans.
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“With the successful launch of our New York location and record first quarter under our belt, we have demonstrated the strength of our brand, and are now well-positioned to bring our award-winning plant-based food to the growing number of consumers in the US and worldwide who are embracing a healthier and more flexitarian lifestyle.”
Neat Burger recently launched in America, opening the doors to an outlet in New York and immediately securing success, with queues around the block.
The company celebrated the strong start, with hundreds of people coming to support their launch.