The premium coffee chain expects to open a further eight stores by the end of 2024 to reach 30 outlets, with the fundraise expected to kickstart European expansion
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IzyCoffee has highlighted the Netherlands, Germany and France as markets of interest | Photo credit: IzyCoffee
Belgian premium coffee chain IzyCoffee has commenced a crowdfunding campaign to support its domestic and international expansion plans.
Founded in 2018, IzyCoffee operates 22 outlets across Belgium and has a further eight outlets in development – including first sites in the cities of Maasmechelen, Genk, Sint-Niklaas, Aalst and Turnhout.
IzyCoffee will use the Crowdcube fundraise – which exceeded its €150,000 ($161,000) target within the first 24 hours to reach €251,860 ($270,000) – to open further sites across Belgium and ‘build the foundations’ for planned European expansion.
In April 2023, IzyCoffee CEO Bart Buyse told World Coffee Portal that the Netherlands, Germany and France are the brand’s main markets of interest, with a first international store planned for this year.
“By the end of 2025, we aim to become a European specialty coffee powerhouse with more than 100 outlets spread across five countries,” he said.
IzyCoffee will be seeking to gain market share from US coffee chains Starbucks and Dunkin’, which lead Belgium’s coffee-focused segment with 35 and 29 stores respectively.
The coffee chain has previously raised over €3m ($3.2m) through crowdlending, angel investors and bank loans to support expansion and sustainability initiatives.
World Coffee Portal’s Project Café Europe 2024 report shows the total Belgian branded coffee shop market exceeds 500 outlets, led by food-focused Panos with 274 stores.