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Sarap

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Sarap is Filipino restaurant serving modern interpretations of classic dishes.

84%
£250,000 target
£211,265 from 12 investors
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Business overview

Location Gloucester, United Kingdom
Social media
Website www.saraplondon.com/
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 13521013
Incorporation date 20 Jul 2021
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Investment summary

Type Equity
Valuation (pre-money) £1M
Equity offered 20.00%
Tax relief

EIS

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Business highlights

  • Going from supper club to permanent restaurant in Central London
  • Filipino cuisine increasing in popularity across the London scene
  • We are investing in adding new members to our team
  • Founded by acclaimed Chef Budgie Montoya
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Key features

  • Secondary Market
  • Seedrs nominee min. £1.00 +

Idea

Introduction

Chef and founder Ferdinand ‘Budgie’ Montoya, who cut his teeth in Michelin starred restaurants, began Sarap as a supper club back in 2017 to find a way to reconnect with his Filipino roots.

After several supper clubs, pop ups and residencies (including in Brixton Market and Heddon St) he is looking to open his first permanent site in Kingly Court on London’s famous Carnaby Street.

Determined to carry on the work of championing Filipino cuisine, this new restaurant will be the culmination of everything he has achieved to date. SARAP is a neighbourhood Filipino bistro serving modern interpretations of dishes inspired by the food and culture of the 7000+ Islands that make up the Philippines.

Monetisation strategy

We are raising funds to open a permanent location for Sarap at Kingly Court in Carnaby Street. To help us maximize the number of guests we serve, we plan to open this 60-cover location 5 days a week from 12pm-1am.

We will offer a range of small plates, sharing plates, and cocktails, continuing in our mission to serve a Filipino Soul with a London Heart. These will include a range of traditional flavors in dishes such as Tortang Talong, Monkfish Escabeche, and Lechon Belly.

Budgie is also already booked in for a range of guest chef appearances at this summer’s festival circuit, and aims to continue to do so to promote the Sarap brand.

We believe that this will allow the business to become scalable nationally and internationally, bringing delicious, modernized Filipino food to a new London clientele and beyond.

The Sarap pop ups (Sarap London Ltd) and Sarap Bistro Ltd are in the process of winding up, investors will be investing into and receiving shares for Sarap Group Ltd under which the Kingly Court location and Budgie’s chef appearances will be run. For more information on the company’s structure, see the Key Information section of the campaign.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,000,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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