Coffee chain Blank Street is in early discussions to raise $100mn or more in new funding, aiming to fuel expansion amid surging popularity with young consumers. The business, valued at about $500mn last year, could achieve a valuation of nearly $1bn in any deal, according to sources. However, talks remain preliminary, with neither the funding target nor the valuation confirmed.

Blank Street declined to comment. This move highlights the chain's rapid growth, contrasting sharply with struggles faced by rivals like Starbucks and Pret A Manger.