A TOTAL of £100,000 has been raised by a North Yorkshire restaurant group specialising in meatballs as it looks to grow its site portfolio alongside entering the retail market.

The Yorkshire Meatball Co., which has restaurants in Harrogate and York, raised the sum through a crowdfunding campaign, via Crowdcube, which was launched at the beginning of March.

The company managed to hit the proposed target with three days left to go on the campaign, with the final closing figure reaching a total of £130,650.

The aim of the crowdfunding was to support David and Gareth Atkinson, the co-owners, in diversifying the business’ current offer.

Their three-year plan includes the launch of a range of premium-branded retail products in supermarkets across the country; to further expand the original Harrogate restaurant, adding an outside beer terrace and a bottle shop; and, in addition, adding a further two restaurants to its portfolio.

David Atkinson said: "First of all we would like to say thank you to all those who invested in our campaign.

"It’s a great feeling to have achieved our funding target of £100,000 and it’s fantastic that we managed to generate further investment on top of this.

"We are pleased the campaign has been so successful, which proves the popularity and strength in our proposed offer.

"There has been a range of investments pledged throughout the campaign; the average investment has been over £550, with half of the total investment drawn from pledges of £5,000 or above.

"Our investors see the potential in what The Yorkshire Meatball Co. can achieve and we are thrilled to have these individuals joining our extended family."

With more than 235 separate investments pledged, the campaign by the Harrogate-based restaurant and retail company proved a popular choice with Crowdcube investors, with investments ranging from £10 - £10,000, and a third of the final total investment was generated from customers based in North Yorkshire.

Gareth Atkinson said: "It means the world to us that so many of our loyal customers have invested out of their own savings.

"It’s humbling to see our regulars from across the region, and others who have visited us from further afield, so keen to support our campaign and our future plans for the business."

In order to achieve the funding target, David and Gareth offered investors a range of rewards, from vouchers for the restaurants, discounted meal offers, to exclusive investor events. The overall funding of £130,650, from the 237 investors, equates to 15.12 per cent equity of the overall business.

David Atkinson said: "We would also like to take this opportunity to thank the team at Crowdcube for their support, advice and patience throughout the campaign.

“Now we can finally put the wheels in motion to start our exciting growth plans. We truly believe that, as the UK’s first Meatball and Craft Beer Bar, our brand is one of the most promising and innovative casual dining offers currently on the market. We can’t wait to take these next steps into transforming The Yorkshire Meatball Co. into a household name."