- Launched in 2014 in Liverpool by chef, CEO, and food writer, Nisha Katona MBE, Mowgli Street Food specialises in dishes that Indians would eat at home and on their streets;
- In July 2017, the business secured investment from Foresight Group, the sustainability-led alternative assets and SME investment manager;
- The business currently has 15 sites in several of the UK’s largest cities, with three further sites confirmed to open this year, in Bristol, Edinburgh and Brighton;
- The capital from OakNorth Bank will be coupled with an investment from Trispan’s Rising Stars fund to support the company’s growth plans growth plans
Following two decades working as a full-time barrister, Nisha Katona MBE, launched the first Mowgli Street Food in Liverpool in 2014, with an ambition to build an eatery serving the kind of food Indians eat at home and on their streets. Now a successful chef and food writer, Katona has scaled the chain to over 630 employees, across 15 sites. These are in several of the UK’s major cities, including London, Birmingham, and Manchester, with a further three sites confirmed to open this year, in Bristol, Edinburgh, and Brighton. Its distinctive offering focuses on providing fresh, healthy, and flavourful Indian dishes in unique tiffin boxes. The “home from home” interior of each restaurant with swing seats, decorative trees, and twinkling lights makes them an Instagram favourite with over 119k followers on the platform. In 2018, Mowgli appeared in The Sunday Times’ Fast Track 100, which features the UK’s fastest-growing companies, and in 2019, Katona was recognised with an MBE for services to the food industry.
The capital from OakNorth Bank will be used to accelerate Mowgli’s exciting plans as it continues to expand across the UK. Additionally, it will enable Foresight Group to exit the business, following its investment in 2017, with TriSpan coming in as new investors alongside Nisha Katona and the management team. Trispan’s Rising Stars Fund is a dedicated restaurant private equity program which has invested in 10 restaurant companies in the US and the UK including: Pho Café and Rosa’s Thai.
Nisha Katona MBE, Founder and CEO of Mowgli Street Food, commented: “Founding and growing Mowgli has been an unremitting joy for me. I soar with excitement when I think of the future possibilities for Mowgli and the way the public and our teams have embraced our food and our brand. Stewart and the OakNorth Bank team were highly engaging and transparent throughout the entire transaction, and I look forward to working with them as we continue to grow Mowgli.”
Stewart Haworth, Director of Debt Finance at OakNorth Bank, added: “The Mowgli brand is very impressive with a strong and differentiated reputation earning a 4/5 rating on TripAdvisor and over 265K followers across social media channels. Whilst the hospitality and dining sector is bracing itself for turbulent times ahead, Mowgli has created an impressive and loyal customer base, as consumers continue to seek out high-quality dining options which offer strong value for money. The investment from TriSpan is further testament to the strength of the brand that Nisha has built, with its experience set to further strengthen Mowgli’s growth ambitions. Supporting entrepreneurs like Nisha is what OakNorth prides itself on and we look forward to watching Mowgli go from strength to strength moving forward.”
ENDS
Notes to editors
About OakNorth Bank plc
Launched in September 2015 and founded by entrepreneurs, OakNorth Bank provides fast, flexible, and accessible debt finance to the UK’s Missing Middle.
Since its launch, the bank has:
- Lent over £8.5b, directly helping with the creation of 37,000 new jobs and 27,000 new homes across the UK.
- Raised deposits from c.175,000 savers.
- Supported several hundred businesses across the UK with debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
Contact
Tom Pavey-Smith, Associate Director, Growth & Communications – [email protected] / [email protected] / 0791 716 5588