Independent Scottish brewer BrewDog has closed the fourth round of its crowdfunding scheme Equity for Punks, after raising a ‘record-breaking’ £19m. However, the amount falls short of its original £25m target.
BrewDog has raised more than £26m through crowdfunding since 2009. As a result, the company says it now has in excess of 42,000 shareholders.
It claims to have ‘taken more money through crowdfunding than any other [campaign]on record’ and to be the first crowdfunding scheme to raise over £5m in under three weeks, as well as offering equity in tandem with bonds.
‘Launching Equity for Punks was the best decision we ever made,’ said co-founder James Watt. ‘We’ve turned more than 42,000 people into passionate brand ambassadors, and raised enough money to keep the momentum of the craft uprising going in the process. It’s a slam dunk for us and for the craft beer industry. No other company would be bold enough to set the bar this high.’
It’s been a year of rapid expansion for BrewDog. It currently operates 43 bars and BottleDogs globally, employs 540 people, exports to 55 countries, and brewed 65 beers in the last year alone. However, the company still only accounts for 0.1% of the beer output of the UK.
Proceeds from the latest round will go to fund its US expansion, with a new brewery set to open in Columbus, Ohio in August. There will also be an extension to its Scottish headquarters at the Ellon brewery which will include creating a new sour beer facility, alongside further UK and overseas bar openings.
New sites are currently planned for Southampton, York, Amsterdam, Malmö and Warsaw. New brew bar concept the Dalston Hopworks is also in the pipeline. The site will feature ten 50 litre pilot kits for customers to learn to brew on, with support from Cicerone-trained staff.
The company is also set to open its own spirits distillery, Lone Wolf, with production on its new range of ‘bespoke spirits’ set to commence in the next couple of weeks.