Dog-friendly coffee shop chain Coffi Lab will continue expanding its estate in the new year after securing a £1.7m investment from the Development Bank of Wales.
The backing came via the bank’s Wales Flexible Investment Fund with the deal advised on by Grant Thornton Corporate Finance.
Coffi Lab currently operates nine shops – five located in and around Cardiff, two in Monmouthshire, and two in England (in Marlborough, Wiltshire, and Portishead, Somerset). A tenth shop is launching in Bristol next month, with the new investment to be used to open several more outlets across south Wales and southwest England over the coming 12 to 18 months. These would create around 40 jobs.
“The investment we’ve had from the Development Bank of Wales means we’ll be able to leverage our investment, speeding up our roll out to bring our Labs to even more communities across Wales and beyond,” commented founder and CEO James Shapland, who established the brand in 2021.
Shapland had previously founded the Coffee#1 retail brand, selling it to Cardiff-based brewer and hospitality firm SA Brain in 2011 – it has since been acquired by The Nero Group.
“When I started Coffi Lab it began with an introspection of what mattered to me,” said Shapland. “Inspired by my beautiful fox red labrador Dylan, I wanted to create a space where we could welcome dogs with open arms.
“Beautiful, open venues; a focal point of leafy neighbourhoods where family and friends could come together without having to leave their canine companions at home. We focus on exceptional coffee, warm hospitality and quality food led by taste and provenance,” he added.
Shapland noted that the company had invested heavily in infrastructure to aid smooth and efficient growth. This included opening a new 1,000 sq ft central kitchen and roastery in Cardiff last year, which he said had enabled Coffi Lab to deliver seasonal menus and develop relationships with producers across Wales.
Bakery options at its shops include breakfast baps, sourdough toasties, filled croissants, focaccia sandwiches, cinnamon buns, Danishes, and cruffins (which they call “crwfins”). A recent example of seasonal NPD is The Christmas Croissant, filled with Perl Wen organic Welsh Brie, sweet figgy jam, toasted pecans, and brushed with a honey & thyme glaze.
“Coffi lab has gone from strength to strength and have established a strong Welsh brand which has proven popular within their local communities,” said Bethan Cousins, new investments director at the Development Bank of Wales.
“We were extremely impressed by the track record, strength and talent within the management team and are delighted to support their growth with this major equity investment. We look forward to working in partnership with the team to accelerate the next stage of their business growth plans as they expand.”
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