BrewDog ahead of crowdfunding target
Like Swiss microbrewers, the Scottish brewer and pub operator, BrewDog, has shown the finger to banks and turned to crowdfunding in an effort to raise money for its ambitious expansion schemes.
Crowdfunding is the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organisations.
On 4 September 2013 BrewDog reported that in about ten weeks they had raised GBP 3 million (EUR 3.6 million) of their GBP 4 million funding target. Their Equity for Punks scheme has seen 42,000 shares made available for GBP 95 each. The money is to be used to expand BrewDog’s bar and brewery operations.
BrewDog co-founder James Watt was quoted as saying: "Raising GBP 3 million in just two months demonstrates the epic support behind the craft beer revolution. We are now well past our previous record of raising GBP 2.2 million in 2011, and fast approaching our GBP 4 million target, with over 10,000 individual investors now owning shares in BrewDog."
UK media also learnt that the brewer later this year will open a bar in India’s capital New Delhi, to be followed by a bar in São Paulo in Brazil early in 2014. The fourth overseas site is likely to be in Berlin, though sources say that this is still early days. BrewDog opened its first overseas bar in Stockholm, Sweden, earlier this year.
Tokyo and Brussels are other possible locations for future openings, as well as the United States.
The company currently operates 11 UK bars with its next openings set for Sheffield, South Yorkshire, and Shepherd’s Bush, west London.
