MSIF Finance Hub helps secure second-round investment for Castle Street eatery Pasta CosaPublished on Business stage: Scaling
Since opening its doors in March 2016, Pasta Cosa has built a regular following of customers in the business district of Liverpool, specialising in freshly cooked pastas and salads served in the heart of Castle St.
The family-run business has gained popularity and traction from the offset, which has been driven by founders Kayleigh and Talia Baccino, but in addition to the early success, the Baccino Sisters were eager to further drive the business forward and look for the next opportunities of growth.
Due to a longstanding relationship with MSIF, Kayleigh and Talia Baccino were able to approach George Wright from the MSIF Finance Hub to help align their views of what was wanted for the future of Pasta Cosa, and how they were going to achieve it.
By working closely with the Baccino’s, George was able to support their vision by detailing business plans and providing two years’ worth of financial forecasts; creating visibility to scope all business needs, allowing Kayleigh and Talia to map the goals and direction of the business.
Pasta Cosa now has greater buying power, has grown and safeguarded employee headcount, and further established the business into a better position for additional funding – ultimately resulting in securing an additional £20k of MSIF funding.
Going forward, Pasta Cosa will use the additional funding to grow the business further, not just as an independent retailer, but through expansion to new sites and the development of a potential Pasta Cosa franchise in the coming years.
Kayleigh Baccino, Co-Founder of Pasta Cosa said: “Applying for business funding can be such a daunting experience; preparing cash flows, detailing future business plans and ticking off the dreaded paper work! However, the MSIF Finance Hub took all the stress and complication out of the whole experience. George is extremely knowledgeable and very easy to work with. He has a great attitude and really helped us to understand exactly what would fit best with our borrowing requirements. We felt supported throughout the whole process from all the team. We wouldn’t be in the position we are in without him.”
George Wright, MSIF Finance Hub Facilitator said: “It has been a delight to work with the Baccino family at Pasta Cosa. They have a keen ambition to continue to grow and develop the business, which has been evident throughout our time working together. They have worked very hard to build their following and I am confident that in the coming years we will not only see the opening of Pasta Cosa 2, but also a franchised business that will build the brand.”
If you’re a growing SME and would like free support to help acquire funding for your business, visit financehub.msif.co.uk to see how the MSIF Finance Hub can help you on your way.
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