Dear new family members!
We cannot thank you enough for believing in Peli Peli and what we are trying to accomplish. If you had told us that we would hit $1 Million when we started this, we would not have believed you!
-Peli Peli’s Thank You to Investors
Peli Peli Austin was the first restaurant to raise $1 Million from ordinary investors online – many restaurateurs thought it was impossible. But this isn’t Kickstarter. (The most any restaurant has raised on Kickstarter is $310,225 – only 6 restaurants have raised over $100,000 in the entire history of Kickstarter).
The founders of Peli Peli restaurant group (Peli Peli), Chef Paul, Michael and Thomas, are a force in Houston, the 4th largest city in the U.S. They built Peli Peli from the ground up, converting people to South African food and the Peli Peli experience since 2009. They’ve won competitions like CNBC’s Restaurant Startup, been featured in many shows and publications and have 2 Peli Peli restaurants listed in the Top 10 Restaurants in Houston on TripAdvisor. They’re prominent in the Houston community for hosting charitable events, pop-up concepts, penning articles sharing their entrepreneurial knowledge – and expanding like crazy.
Peli Peli is wonderfully diverse, colorful and bold – a place that makes Houston, Houston. It’s more than just a good restaurant: Peli Peli changes the way people think about Houston as a city. And as leaders in entrepreneurship, they’re always looking forward and seeking out new, better ways to evolve and operate. Peli Peli proved what was possible for restaurateurs by raising funds from ordinary people. Not only did they forge a new path in how businesses could finance growth, but they also showed how a business could link up with people to support each other.
Raising funds is no easy feat for anyone – and even successful businesses need to raise funds to expand quickly. That meant giving up ownership to equity investors (the most expensive way to finance your business), borrow from a bank and put all of your personal assets on the line, or turn to alternative lenders charging exorbitant interest rates. So in early 2016, Peli Peli’s Galleria location raised $358,000 on NextSeed’s Texas intrastate crowdfunding platform to test out this new way of fundraising. At the time, they had 2 locations (Peli Peli Galleria and Peli Peli Vintage Park) and were already well known. Since then, they opened up Peli Peli Kitchen, their fast-casual restaurant concept, and a Peli Peli location in Katy, Texas. Peli Peli Galleria paid back their investors early, in just 12 months. With their expansion into Austin, the Peli Peli team wanted to engage a core group of supporters and move forward with their community – not with banks or a few investors with deep pockets. This time, on NextSeed’s national platform, Peli Peli Austin handily raised their $300,000 minimum, grew steadily to $500,000, and soon rocketed to $1M from 410 investors all around the United States.
Peli Peli is leading the food and beverage industry by taking the time to understand a new way of financing and engaging the public in their business not just as customers, but as partners in shaping their business and their city.