Lewis Hamilton-Backed Neat Burger Secures $18 Million Series B: ‘A Major Milestone’

The U.K.-based Neat Burger, the plant-based restaurant chain supported by influential figures like Lewis Hamilton and Leonardo DiCaprio, is set to expand its global reach following a successful $18 million Series B fundraising round.

Despite the challenging macroeconomic backdrop, Neat Burger has emerged as a leading player in the plant-based food industry. The recent fundraise saw Formula One Champion Lewis Hamilton reinvest, alongside Chimera Capital. Notable new investors include LionTree, New Theory Ventures, Real Madrid goalkeeper Thibaut Courtois, and model and actress Sara Sampaio.

Since its launch in 2019, Neat Burger has rapidly grown to become one of the world’s fastest-growing plant-based food groups and has garnered a reputation for its pioneering approach to appeal to both flexitarian and plant-based consumers.

‘A major milestone’

The company’s focus on high-quality, fresh ingredients without compromising on taste has helped to make plant-based eating accessible and enjoyable for its customers. Neat Burger’s purpose is to offer ethical, sustainable, and delicious plant-based food served with passion and style.

“We are thrilled to have reached this major milestone in Neat Burger’s journey with a successful fundraise from previous investors alongside an impressive group of new investors,” Tommaso Chiabra, Co-Founder of Neat Burger, said in a statement.

“This is a pivotal moment for our business, and it allows us to accelerate our growth plans. With the successful launch of our New York location and record first quarter under our belt, we have demonstrated the strength of our brand, and are now well-positioned to bring our award-winning plant-based food to the growing number of consumers in the U.S. and worldwide who are embracing a healthier and more flexitarian lifestyle,” said Chiabra.

Leading the round is B-Flexion, a private institutional investment firm founded by Ernesto Bertarelli, which focuses on sustainability.

“I love how Neat Burger is on a mission to make plant-based eating more accessible to everyone,” Chiara Bertarelli said om a statement. “Our generation is paving the way and driving this change, with research showing once Gen-Z adopt a vegan or flexitarian diet, 70 percent stick with it. So, the key is getting people to try it and integrate it into their daily lives. First impressions count and Neat Burger’s approach, combining fun and sustainability, has the potential to change the world.” Bertarelli is a recent Harvard University graduate and will now serve as Neat Burger’s Sustainability Advisor.

The investor support not only recognizes Neat Burger’s growth potential but also acknowledges its unique and innovative approach. Neat Burger prioritizes an engaging restaurant experience that inspires consumer curiosity and encourages the adoption of a meat-free and flexitarian lifestyle. The group’s London restaurants have shown record-breaking performance in the first quarter of this year, with like-for-like sales up by 20 percent.

Central to Neat Burger’s menu are its fully plant-based offerings, providing health-conscious consumers with guilt-free options for enjoying all-American burger classics. The Neat Burger patty is crafted with a blend of nutritious superfoods such as mung beans, quinoa, and chickpeas, and is rich in healthy fats and protein.

Neat expansion

Earlier this year, Neat Burger made its U.S. debut in New York. “We see New York as a tastemaker gateway to the U.S. and by all metrics it has been our most successful launch to date,” said Zack Bishti, Co-Founder and CEO of Neat Burger. First-month sales exceeded expectations, making it the best-performing store in the entire Neat Burger portfolio.

“New Yorkers have good taste and strong opinions and we’ve been thrilled to see customers continually return,” said Bishti. “We’re at the heart of the growth in plant-based diets and our proximity to the customer voice sets us apart. In response to the growing demand for cleaner ingredients, we’ve incorporated healthier options into the New York menu, while continuing to serve our growing community food that’s as sustainable as it is delicious.”

The chain is also expanding with restaurant launches in Italy and the Middle East. Additionally, the company is growing its business-to-business vertical by forming partnerships with hospitality groups and businesses aiming to achieve net-zero targets by shifting to plant-based offerings.

The success of Neat Burger is reflected in its growing fanbase and also in widespread industry recognition. The company has been honored with the prestigious U.K.’s Best Vegan Restaurant of the Year award at the Deliveroo Restaurant Awards for two consecutive years. These accolades highlight the positive response and acceptance of Neat Burger’s innovative approach to plant-based dining.