Spinners secures £4m investment for expansion
The deal continues a busy period of activity for Gresham House Ventures, which recently led a £5m investment round in adventure travel scale-up Much Better Adventures
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Competitive socialising operator Spinners has announced that it has secured an investment of £4m from Gresham House Ventures.
The funding from Gresham House Ventures will be used to expand the business’s footprint to new sites around the UK. It will also support improved data capture to better understand customer behaviour and increase uptake rates.
Having opened its first venue in Reading in 2021, Spinners has since expanded to two further locations in Plymouth and Solihull and now plans to launch several new sites over the coming years.
Spinners has invested significantly in developing and implementing new experiential activities at its venues, including its own clay shooting simulator, with plans to introduce a fresh spin on golf at future locations.
Having introduced what is believed to be the first loyalty scheme in the UK’s competitive socialising industry, the business has built a “devoted” customer base, with high customer return rates across its three sites.
Jamie Bylett, founder and director at Spinners, said: “We’re delighted to welcome Gresham House Ventures as partners at this pivotal stage in our journey. Its support will accelerate our growth plans and help us continue delivering exceptional experiences for our customers. We’re excited to expand Spinners into new cities and bring our unique offering to people across the UK.”
Francis Ireland, associate at Gresham House Ventures, added: “Spinners has built a strong brand proposition over the last few years and is well-positioned to capture the structural growth in the competitive socialising market.
“Our investment will provide the capital to roll out the business’s exciting multi-activity offering in towns and cities across the UK, and we look forward to working with the team over the coming years to continue building Spinners into a national brand.”
The deal continues a busy period of activity for Gresham House Ventures, which recently led a £5m investment round in adventure travel scale-up Much Better Adventures.
