In the week Marcela Flores-Newburn was seen leaving Dragons' Den without securing backing from the panel of entrepreneurs, the founder of food company Rico Mexican Kitchen has secured investment worth more than she pitched for on the BBC TV show.
The fourth episode in the new series of the programme featured the culinary entrepreneur asking the Dragons for £75,000 of investment for a 20% stake in her company but speaking to BusinessZone.co.uk, Flores-Newburn revealed she originally planned to ask for more which she has since received from a Nottingham-based group of investors: "The BBC advised me to go for less money than that [£75,000] which we did. But I knew my requirements were higher," she explained. "The [new] investors are covering the amount we require initially and further investment as well."
The exact amount has not been revealed but Flores-Newburn said it was a "six-figure sum". The equity stake taken by the investors has not been confirmed.
Speaking about her television experience, the business owner who launched the company from her kitchen, said the Dragons gave "frank and good advice" before adding: "They didn't rip me to pieces which is something you don't take for granted when you go into the Den."
Flores-Newburn said the company would be conducting a strategic review of whether to rebrand following advice from the TV millionaires.
Peter Jones suggested that Rico was not a suitable name for the company saying it didn't immediately make people think 'Mexican food'.
"The rebranding has been on the cards for a year," Flores-Newburn said. "I’ve been seeing some London agencies, who are all excited to working with us. I've seen four top, award-winning agencies which have created iconic brands and they all believe in our vision.
"Now we are going to take a strategic review because we've had all this exposure as Rico and people know now what it means…then maybe it's not so much about renaming it as communicating the message," Flores-Newburn added.
She also revealed Rico Mexican Kitchen would try not to launch too many things at once, another piece of advice given to her on the BBC TV show after she demonstrated the company's varied range of products including juices and salsa dips: "[This was] something we'd spoken with investors about before the programme," she said. "The programme just consolidated that."
David Haycock, a director of the investment group which backed the firm, said: "We really believe in Rico Mexican Kitchen's product range and in the work Marcela is doing, not only supporting the growers in Mexico and Britain, but also in making authentic Mexican food available to consumers. We are looking forward to helping her in her quest by funding what is necessary to get the brand and products out there."
In a separate statement, Marcela Flores-Newburn, who is originally from Monterrey, said: "This is such an exciting week! Not only did I get the opportunity to appear on Dragons’ Den, but I’ve also found the investment the business needed to flourish. Our products are genuinely Mexican, which is something completely new in this food category and previously unavailable.
"There is a great deal of interest in Mexican food with fajitas and burritos now a dinner time favourite for many but I feel now is the time to introduce the ‘real deal’ to consumers and increase the flavours and food on offer."
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