Coffee chain Blank Street Coffee is reportedly in initial discussions to raise at least $100m in new investment as it pursues further international growth.
Talks over the fresh funding remain at an early stage, and key details are yet to be determined, the Financial Times reported.
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The coffee chain was reportedly valued at $500m last year. A new deal could lift that figure to close to $1bn.
Blank Street Coffee was established in 2020 and has expanded rapidly since then. It now runs more than 50 outlets across the UK, alongside a substantial footprint in New York, Boston and Washington in the US.
Since launching its first UK venue in 2022, the network has broadened to other cities, including Birmingham, Cambridge, Edinburgh, Glasgow and Leeds.
In London, Blank Street operates more than 30 cafés, including branches near St Paul’s, Moorgate and Liverpool Street.
The company is also due to take space at the £500m town centre development in Elephant & Castle, London, with an opening planned for summer 2026, according to The Caterer report.
Financial statements filed in October last year show that turnover almost tripled to just under £36m in the 2024 financial year.
Blank Street has leaned into demand for matcha-based drinks as part of its strategy.
Its recent menu additions include Lemon Loaf Matcha, Cherry Glaze Matcha and Banana Bread Matcha.
It is said to have garnered rapid attention on social media after arriving in the UK, helped by the popularity of matcha among Gen Z consumers.
