OakNorth has completed a debt finance deal of £1.4m to Adventure Bar to bring its total lending to the London cocktail chain to £3m.
The specialist bank previously provided the group – which now has seven sites – with funding to open its fourth site and its two newest locations in Waterloo.
This latest deal will be used to refurbish an existing site in Covent Garden and open a new bar in Shoreditch.
“We’re delighted to once again be working with OakNorth to fund our expansion – we appreciate all the support they’ve given us over the last three years and look forward to continuing to work with them as we grow,” said Tom Kidd, co-founder and director at Adventure Bar.
Deepesh Thakrar, senior debt finance director at OakNorth, added that the group was one of its first clients when it launched and said it had been a privilege to see it expand from three sites to the seven it has today.
“The team works brilliantly together and [has] developed a proposition that is proving to be extremely popular with Londoners and tourists alike.
“We look forward to working with the team on more deals in the future and help them continue building on this success.”
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