Ashcombe is pleased to announce that it has advised Puttshack – the tech-enabled mini-golf social entertainment concept – on a £30m equity funding round led by Promethean Investments.
The new funding will support an accelerated rollout across both the UK and North America, with Puttshack due to open its next UK locations at intu Lakeside’s new leisure development and a flagship venue in the City at No.1 Poultry this year.
Joe Vrankin, former CEO of Topgolf International, has been appointed as CEO to lead the transatlantic expansion. He said: “I have been involved in raising money for companies at a senior level for the last 20 years, and while raising money is never easy, it’s the easiest I’ve ever been involved with.”
Steve Jolliffe, co-founder of Puttshack, added: “Ashcombe has given Puttshack very valuable advice over the last 4 years, not just on our fundraising, but also on the strategic direction of the business. We look forward to continuing to work alongside them as our trusted corporate finance adviser.”
Marc Mansfield, partner at Ashcombe, commented: “By combining its unique technology with the traditional game of mini golf, Puttshack has created a market-leading customer experience with broad demographic appeal and enormous global potential. We look forward to continue supporting the business as it develops and grows.”