Linked Finance, Ireland’s leading crowd lending company, has successfully raised €25,000 to finance the expansion of Medley, the private dining and venue hire business run by celebrity chef Andrew Rudd.
The funds will be used for the fit out of Medley’s new premises on Fleet Street, Dublin 2, which is due to open in the coming months. Significant areas of future growth for the business include corporate events, weddings and private functions.
Formerly located on Drury Street, the move marks a new chapter for Medley as it expands its business to cater for increased demand among private and corporate clients.
The Linked Finance funding will be used, along with Medley’s own funds, to complete the fit out and building works for the new, larger venue. Spread over two floors, the venue provides greater flexibility in terms of usage of space including separate reception areas and additional amenities. The premises will also incorporate a ground floor coffee shop and bistro.
Andrew Rudd says: “We’ve gone from strength to strength since launching back in 2012, building up a strong and loyal customer base – providing a service that stands out from crowd. Key to our success is the time and effort we put into creating memorable experiences for our clients tailored to their specific requirements. This has paid off through repeat business and referrals which means we’re seeing increased demand across all areas of our business. Now is the time for us to invest further and capitalise on the growing opportunities.”
Linked Finance’s peer-to-peer lending platform brings together SMEs and members of the public who are looking to lend to businesses at competitive interest rates. Most of the loans facilitated have been significantly over-subscribed by bids from lenders, which total over €14.5m to date – reflecting the high level of demand to lend to the Irish SME sector. Linked Finance is projected to reach €250m in lending by the end of 2017, having secured a €2.5m investment earlier this year to expand its IT platform and double its number of employees.