Dessert Cafe Billy Angels, recognized for its potential growth from venture capital, will pursue further investment.
According to the investment industry on Tuesday, Billy Angel has recently been in contact with investors to attract investment. The funds raised will be used for plant expansion and opening of retail stores.
Billy Angel also attracted investment from multiple venture capital firms in 2015. POSCO, and Yuanta acquired worth 1.5 billion KRW respectively. In the following year, Wonik also invested 1 billion KRW, and so far, Billy Angel has received a total of 4billion KRW.
Considering the investment cost, Billy Angel estimated about 10 billion KRW worth enterprise value recognized in the market at that time. It is expected that the company will appreciate even higher value in this round. Billy Angel is reportedly planning to raise nearly 10 billion KRW this time.
Billy Angel is a premium dessert café franchise that started in 2012 as a dessert editing shop near Hongik University in Seoul. Dessert products such as crepe cake, etc., have made a homemade style taste and design differentiated by their main products. Currently, it operates more than 70 stores and has annual sales of about 20 billion won,Investors have lots of interest in Billy Angel so it will be easy to attract investments. Desserts, including cakes, are not in the fashionable food and beverage sector and Billy Angel is growing steadily, also popular among young consumers. ‘ An industry representative said, recently, the restaurant and beverage industry is attracting attention as a stable business in the investment industry. Billy Angel has also grown more than twice as much every year since the last investment inducement, so investment attraction is likely to be completed soon.