Europe’s largest fast-casual Mexican restaurant group Tortilla has received £2.25m in financing from Santander Corporate Banking.
Launched in 2007, the burrito specialist named by Zagat as the Top Mexican Restaurant in London, recently opened three new sites in London, Kent and Southampton.
Now operating in 11 locations across the UK, Tortilla plans to use the funding from Santander Corporate Banking to finance further expansion both in and out of the capital.
The financial support follows a £3.5m investment from private equity firm Quilvest in December 2011, which saw Quilvest partner Axelle Strain join the Tortilla board of directors.
Founder of Tortilla, Brandon Stephens, is confident that the new financing will aid further UK expansion: “I grew up eating healthy, affordable burritos in California and I just couldn't find anything like it over here. As the concept evolved, it increasingly became evident that there was a strong market for fresh, affordable burritos and tacos.
“The financing from Santander and continued support from Quilvest, provides us with the capital necessary to execute our objectives for growth and will allow us to pursue a number of exciting expansion initiatives within the M25 as well as outside of London.”