BrewDog’s latest fundraising attracts 10,000 investors
The Scottish brewery BrewDog managed to raise GBP 4.25 million (USD 6.9 million) in six months in a record-breaking crowd-funding scheme, the company announced on 23 December 2013. That was one month earlier than planned.
BrewDog set out in June 2013 to raise GBP 4 million in idiosyncratic style, driving a tank around the Bank of England with an army of craft beer fans in tow. On offer were 42,000 shares in the company at GBP 95 (USD 155) each.
It confidently increased the target by GBP 250,000 in November to keep up with the mounting demand for shares.
Having shunned the banks for investment, BrewDog has so far raised over GBP 7 million (USD 11.5 million) through over 12,000 “fanvestors” buying shares in the business during three rounds of the “Equity for Punks” scheme.
Unlike many crowd-funding programmes that simply raise donations in return for fringe benefits or bonds, BrewDog offers equity in its business, alongside a lifetime discount in its bars and its online shop.
The brewer has achieved an average annual growth of 167 percent over the past five years and the company is already valued at over three times the value it was given during the last Equity for Punks scheme in 2011.
The company now employs 200 staff and is on track to achieve turnover of GBP 19 million (USD 31 million) in 2013, with strong growth forecasted to continue into 2014. Already, BrewDog exports to 38 international markets.
Its biggest success in 2013 was the growth of its bar division, opening 12 bars since 2010 – largely funded by Equity for Punks investment – including its first international location in Stockholm, Sweden.
