Zing Zing, the London-based Chinese takeaway start-up, has caught the eye of Michael Sherwood, vice chairman of Goldman Sachs and the co-chief executive officer of Goldman Sachs International, who has backed the business alongside 230 other armchair investors on Crowdcube.
The crowdfunding campaign, which has now overfunded by 15pc to hit almost £410,000, will help the young business expand into three more sites in the capital. Zing Zing is selling a 9.78pc stake.
Zing Zing, which was founded in 2012 by Joshua Magidson, 30, currently has a one restaurant in Kentish Town and one in Highbury. The company makes traditional Chinese food with a twist, stripping out the monosodium glutamate (MSG) and using fresh, “top quality” ingredients.
rom just two sites, the company generates a turnover of £1.2m, which is forecast to rise to £2.8m next year. The business will hit £22m in revenue by 2020, Mr Magidson claimed.
The business boasts a number of heavyweight investors and board members, including: Jamie Barber, restaurateur and founder of Brazilian barbecue chain, Cabana; Maurice Abboudi, former Domino’s Pizza executive and founder of Pizza Lupa group, which sold to Firezza in 2015; and John Harrison, formerly of Malmaison and Liberty’s.
It is understood that Mr Sherwood invested £20,000 after becoming a fan of the food.
Zing Zing’s bestsellers include quirky dishes such Asian sesame supergrain, a quinoa-based alternative to egg-fried rice, and Zing Zing’s trademark Creme Egg wontons, which were developed under duress by executive chef Jeremy Pang.