Bounce owner raises $20m for US expansion
Social Entertainment Ventures (SEV), the owner of Bounce, Flight Club and Puttshack, has raised $20m to drive the expansion of its leisure brands across the US.
The company will accelerate the roll-out of Flight Club, a darts bar concept, across the US, with its second venue set to open in Boston next month.
The funding will also drive the launch of SEV’s new bingo-focussed venue Hijingo, which is due to open in London in spring next year and the expansion of ping pong bar Bounce beyond London and Chicago.
Chief executive Toby Harris, who was appointed last year, said: “This raise enables use to kick start a roll out of our existing brands in both the UK and US, our two key markets, and bring further new concepts to life following the successful launch of Puttshack.
“Innovation remains at the heart of our business as we seek to build a platform of industry leading brands which can travel.”
Toby Rolph, the former finance director at cocktail bar chain Be at One, has been appointed chief financial officer, while Sam Pollard has joined as operations director from restaurant group D&D London.
SEV founder Adam Breeden said: “I’m delighted that SEV is now in a position to roll out at pace across its brands internationally. I’m also very excited to be able to focus much more of my time on developing new concepts knowing that the business has the financial backing and a first class management team in place to scale the business.”
The funding round was led by Acropolis Capital.
Main image credit: SEV