Wine bar business Vagabond has secured a £3.5m funding from leisure and hospitality investment company, Imbiba.
Vagabond was founded in 2010 by Stephen Finch as a relaxed bar with informal wine tasting, and fives sites across London with a sixth site to open in October 2018. The investment from Imbiba will be used to open new Vagabond venues across the UK.
The chain has bespoke self-serve wine dispensers enable customers to trial over 100 wines by the sample or the glass, opening customers up to wines produced in the UK.
John Connell, chairman of Imbiba, said: “We are delighted to be working with Vagabond. Within the UK hospitality market, Vagabond is seen as a differentiated and focused business model that provides consumers with a high-quality, superior range at an accessible price point.
“It’s a highly scalable business with industry leading site performance metrics and we look forward to supporting Stephen and the management team with their growth plans across all elements of the business.”
Vagabond founder and managing director, Stephen Finch, added: “Imbiba was the obvious partner to help us fulfill our ambitions for Vagabond. They have unparalleled sector experience, a ridiculously strong track record and, perhaps most compellingly, an investment team that genuinely understands the operational intricacies of a leisure business.”