Business Bio

Founded in 2012 by Charlie Carroll as a successful pop-up in a Shoreditch pub, Flat Iron has gone on to open six restaurants across London with sales of £14.5m. Flat Iron has capitalised on their iconic brand experience and single-product offering of affordable, high quality butchers’ cuts of steak.

Loan Amount

£5,000,000

Region

London

Funding Need

Growth capital

Sector

Food and Drink


Their Journey

Flat Iron are opening their seventh restaurant on 21st January in Tooley St by London Bridge. They have secured a further site in Spitalfields due to open in summer, with plans for at least one further opening this year.

Charlie Carroll, Founder of Flat Iron said “We are optimistic for the future, trading remains strong and we are seeing an increasing number of quality opportunities on the property side. We are looking forward to the chance to acquire some really amazing sites and are appreciative that Thin Cats were able to see past the wider industry headlines and provide us the financial means to support our growth.”

Following a recent investment of £10m from consumer brands specialist Piper and profits almost doubling year on year the loan from ThinCats will support the businesses growth plans for the next 3 years.

Frustrated with the lack of bank support for the sector Flat Iron sought a funding partner who could provide the flexibility and expertise needed. With several investments in the casual dining sector ThinCats was able to provide a bespoke package delivered in a matter of weeks.

Dave Sherrington, Director, Regional Business Development at ThinCats said: “Charlie has created a concept and brand in the casual dining sector which is second to none. The management team he has built around him are world class and the financial results they have achieved against the backdrop of significant industry pressures has been exemplary. Charlie and his team are precisely the type of people we want to back and this deal is a great example of alternative finance disrupting the banking market to allow a UK SME fulfil its potential.

“More than ever, a flexible, responsive approach is needed from alternative lenders. Flat Iron’s continued, impressive growth is indicative of their brilliant leadership team and we look forward to working with them in the future.”

Find out more about Flat Iron and their venues:

flatironsteak.co.uk

We are looking forward to the chance to acquire some really amazing sites and are appreciative that ThinCats were able to see past the wider industry headlines and provide us the financial means to support our growth

Charlie Carroll, Founder of Flat Iron

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