IT'S CHIKA'S TIME
Dragons’ Den hopeful who rejected £30k from Peter Jones now has £10m business empire and SIX houses
DRAGONS' Den entrepreneur Chika Russell bravely rejected a £30k investment from the show's wealthiest businessman in 2015.
And seven years later it's safe to say it paid off as her Chika's Foods business empire received a whopping £9.8million investment in her most successful 12 months to date.
3
3
Speaking to she said: “As a result I've started paying myself a salary for the first time since I set it up seven years ago.
“Less than 10% of private equity funding goes to female entrepreneurs – and less than one per cent goes to women like myself who are from black, Asian and other ethnic minority backgrounds.
“So it's a huge deal to secure such a significant investment.”
Nigerian-born Chika donates 1p from each sale of her products to World Vision in a bid to give girls in Africa an education.
Her pitch to the Dragons went exactly plan with each and every one keen to work with her.
She initially said yes to Peter Jones's cash in exchange for a 25 per cent stake in her African-inspired snack company, before changing her mind behind the scenes and deciding to go it alone.
The shrewd businesswoman also owns six properties, one of which is an eight bedroom home in Notting Hill where she lives with her husband.
The pricey property, which she purchased for 'millions' six years ago, took three years to renovate, and Chika believes the work has added on another couple of million to its value.
Most read in News TV
In her early 20s, Chika managed to save a £140k fortune as a hairdresser. Charging high prices, she could earn as much as £2,000 in a weekend and she banked every penny.
Prior to the 2008 financial crash, Chika used her savings to buy a three-bedroom house in Norbury for £249,000, a two-bed flat in Clapham for £229,000 and a four-bed house in Mitcham for £349,000.
And as well as her property portfolio she also invests in tech companies and crypto currencies and has been rewarded with major growth.
3
Topics