The Dally launches fundraiser to support expansion

A neighbourhood private members club in Islington has announced a £1m equity fundraise to launch its second site and support its UK expansion.

Following a successful first year, The Dally plans to establish venues in residential areas rather than central locations, allowing the group to offer membership at a more accessible price. 

The Dally is backed by a series of private high-net-worth and hospitality-focused investors, with proceeds from the fundraiser supporting the opening of a second club, which is likely to reside in one of London's 'villages'.

Over the next five years, the management team believe it has the potential to scale the brand up to five sites while maintaining profitable and sustainable growth. The brand also plans to establish outposts in affluent holiday destinations such as Norfolk and Cornwall.

Caroline Baldwin, co-founder and CEO of The Dally, comments: "We've had a fantastic start to life. In the six months since opening, we've traded ahead of expectations, have strong membership levels and a good pipeline of enquiries, and a run of private event bookings all the way up to spring. Our performance reflects our belief that there is a gap in the market for member-lef, events-focused private members clubs located in the neighbourhoods in which their members live. Now, we're ready to bring in more investors who want to join us on this journey to revolutise the private members club sector and start calling The Dally's differentiated concept."

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