Mikos Gyros, the Greek street food brand that has grown from a single shop in south London to a national grocery contender, is using an invoice finance facility from Optimum Finance to underpin its latest phase of growth.
The business, founded by Hugo Ushida in 2017 after discovering a modern twist on Greek cuisine while on a working holiday in Melbourne, made its UK debut in Clapham before opening a second outlet in Brixton. By 2020, it had become the busiest restaurant on Deliveroo’s platform and went on to win the “Best Meal Under £10” category at the Deliveroo Restaurant Awards in 2021.
In 2023, Mikos Gyros broadened its focus beyond food service, launching a premium range of Greek grocery products aimed at consumers seeking restaurant-quality meals at home. The move has accelerated demand, creating the need for a working capital solution that could match the pace of growth.
IMMEDIATE CAPITAL
Rather than taking on new debt, the company turned to invoice finance to unlock the value tied up in its receivables. The facility, provided by Optimum Finance, gives Mikos Gyros immediate access to capital from unpaid invoices – funding that has been channelled into key areas such as packaging, production and fulfilment.
“We now have the liquidity to keep pace with our growth,” said Ushida (pictured). “Instead of waiting for weeks or months to be paid, we can access the funds immediately and keep investing in production, machinery, and orders.”
Mikos Gyros is now active in two buoyant sectors: the £3 billion UK world foods retail market and the £2.8 billion takeaway kebab shop market. According to Google Trends, consumer interest in gyros has exceeded that for fajitas in each of the past three summers, underlining the product’s growing popularity.
The business is currently progressing with major retail listings and has also launched on Amazon. Ushida said the company’s ambition is to challenge some of the sector’s biggest brands, with a focus on quality, freshness and innovation.
“Our goal is to build a brand that can compete with the biggest players in the market, but with a focus on quality and innovation,” he said. “We listen to our customers and stay true to our roots in offering fresh, high-quality products.”
Plans for the future include securing listings with five leading UK grocery chains, followed by expansion into overseas markets, including the EU, the US and Australia and New Zealand.
Ushida praised Optimum Finance for their role in supporting the company’s strategy. “Optimum’s flexibility and efficiency have been invaluable in helping us scale without taking on unnecessary debt,” he said. “The team is always responsive and genuinely invested in our success.”
