Neat Burger plans to use the injection of funds to expand its number of outlets internationally and in the UK and the US as well.

Vegan fast-food chain Neat Burger has netted $18 million in a recent seed round.

The Lewis Hamilton-backed eatery is now valued at a whopping $100 million after securing funds from the likes of LionTree and Real Madrid.

The funding round – led by private investment firm B-Flexion – comes after the co-founder of Neat Burger, Zack Bishti, decided to put the company’s expansion plans on hold due to surging inflation that has been affecting businesses worldwide.

The vegan business now plans to use the injection of funds to expand the number of outlets the chain has internationally and in the UK and the US as well.

“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, B-Flexion representative said.

Pivotal moment

Neat Burger co-founder Tommaso Chiabra added: “We’re just scratching the surface of the biggest food revolution we will ever witness.”

“We are thrilled to have reached this major milestone in Neat Burger’s journey with successful fundraising 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,” he continued.

“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’s growth trajectory

Since its establishment in 2019, the UK-based chain, which is also backed by Leonardo DiCaprio, has successfully opened 10 permanent locations. Out of the 10, eight are located in the UK, one is in Dubai, and the latest addition is in New York.

The restaurant chain has set its sights on opening 30 more locations, with Italy and the Middle East being potential regions for expansion.

“The response to Neat Burger since we opened has been incredible,” Hamilton said in an earlier press statement.

“I’m really proud of the boundaries we have been able to push in this space, and the plans for expansion are really exciting.”

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Mohsina Dodhiya

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