Celebrating 15 Years of Dishoom

In 2010, Shamil Thakrar and Kavi Thakrar co-founded Dishoom, inspired by the Irani cafes of early 1900s Bombay. Now, 15 years and 15 restaurants later, the brand has set their sights on new international horizons. At Dishoom, each location has a storied legacy, like the pearl-smoked Indian marble of Covent Garden, or the bustling Terminus at King’s Cross. More recently, Dishoom introduced Permit Room, an all-day bar-cafe serving deliciously curated cocktails and local resident DJs – inspired by a time when alcohol was banned in Bombay. Every iteration of Dishoom brings a unique fusion of Mumbai, Irani cafes and modern Indian cuisine, when you step into a Dishoom location, you are instantly transported to a bustling world of flavor and culture.

Since 2012, Paperchase has been the finance team for Dishoom, providing them with streamlined financial support across their portfolio, and the journey is just getting started. We have supported CFO Stephen Neudegg as the group prepares for new exciting opportunities. In August 2025, Dishoom received a minority investment from L Catterton, a private equity firm backed by LVMH. The group gave Dishoom a valuation of approximately £300 million. This came after a period of strong financial performance, with the company’s sales exceeding £100 million in 2023″. The equity was given to fund Dishoom’s international growth, specifically its expansion into the United States. As part of our role as Dishoom’s financial partner, Paperchase steadfastly supported this investment through engagement in the critical due diligence process and collaborating with the Dishoom finance team to submit the requests from PwC.

Securing Investment with Paperchase

The extremely tight investment timeline required Dishoom’s financial team and Paperchase to manage three simultaneous workstreams: the annual year-end audit, ongoing management accounts, and the due diligence information requests. The core challenge was to provide vast amounts of accurate financial data on an accelerated timeline, without disrupting other essential business processes.

Paperchase’s well-documented and meticulously maintained financial database became the cornerstone of successful due diligence. The firm’s ability to quickly access and furnish historical data from the past three years, with a high degree of accuracy, was a key enabler.

Paperchase’s strategic support included:

Accelerated reporting during the due diligence process provided the due diligence team with the necessary financial snapshots on a much faster timeline.
Custom data reconciliation as per the request from the due diligence team.
Seamless collaboration between Paperchase and Dishoom’s finance team to compile and provide all requested information in the correct format.

Result: The efficient and effective handling of the due diligence process was a key factor in Dishoom securing the investment. By providing timely and accurate financial information, Paperchase helped remove a significant potential hurdle. With the new investment secured, Dishoom is now poised for rapid expansion. This new investment capital will allow Dishoom to accelerate its expansion plans, supported by a robust financial foundation built over a decade of strong partnership with Paperchase.

Paperchase’s Support From 2012 Onward

Paperchase is more than just a helping hand in the investment process. Since 2012, we have empowered Dishoom’s day-to-day financial operations through meticulous reporting and growth-focused accounting that helped them rise to the global identity they are today.

During COVID, Dishoom ventured into dark kitchen space and currently operates a channel of 12 delivery kitchens and an e-commerce site in addition to their guest-facing cafes. In an interview with the team, Dishoom CFO Stephen Neudegg praises Paperchase’s management of these three revenue streams and how the reporting is tailored to each channel in their operation. Month-to-month, Paperchase provides Dishoom, the drivers of their profitability on a location specific basis, allowing for the most actionable decision-making.

The Legacy Continues

Dishoom’s long-awaited New York opening follows speculation after a pop-up in the city in 2024. That August, Dishoom hosted a two-week breakfast event with the iconic Meatpacking District French bistro, Pastis, leaving New Yorkers craving a Parsi Omelette or Bacon Naan Roll. Thankfully, that craving has been satisfied with the announcement that Dishoom is opening a New York location in 2026, thanks to the investment from L Catterton and Paperchase’s advising and Stephen’s leadership.

Stephen Neudegg, CFO of Dishoom, testifies to the legacy: “Paperchase’s unwavering support has helped our business achieve fantastic, profitable results, including this latest milestone. The team has gone above and beyond throughout the investment process, and we’ve been able to achieve a fantastic result with the partnership – thanks to Paperchase for being a key part of it all.”

The enduring partnership between Paperchase and Dishoom is a testament to the power of strategic financial support in fueling ambitious growth. From initially overhauling Dishoom’s financial reporting systems in 2012 to providing critical, on-demand data during the recent due diligence process, Paperchase has consistently served as an essential enabler of Dishoom’s expansion. With both brands positioned for continued mutual success, more exciting developments are sure to be on the horizon soon.