Northern Monk smashes crowdfunding target

Drinks: Beers, Drinks
Other: Business

If you wanted proof of just how popular Northern Monk is, then this is it. The Leeds brewery’s recent crowd-funding initiative has been a massive hit, raising half a million pounds in just three hours.

Northern Monk launched the initiative on 26 February, with the intention of raising £500,000, but surpassed that total by the afternoon of the same day.

At the time of writing the campaign is ‘well on the way’ to raising £1m, and more than 1,000 people have signed up.

The half million pound target was aimed at tripling the brewer’s capacity, with any surplus potentially funding a second tap room – probably in Manchester or London. With the initiative providing almost double the expected amount, those plans have now been ‘fast-tracked’.

‘We were blown away by the level of support for what we’ve set out to do,’ said Russell Bisset, owner of the Northern Monk Brewing Co. ‘There are over 1,000 of us in the company now! We’re looking to raise up to £1m and give away 10% of our business for others that are keen to join us.’

The first round of investment closes on 30 March.

About Author

Chris Losh

After five years working on My Weekly magazine (during which time he learned how to write horoscopes and make things out of mince) in 1995 Chris Losh entered the world of drinks writing and, despite all advice from his doctor – and the wishes of most South African winemakers – has stayed there ever since. He began on Wine and Spirit International, editing it for several years before moving on to edit Wine Magazine. Both publications have since gone the way of the Dodo, but he claims to have nothing to do with their demise, and his alibi appears solid, since he was freelance writing for anyone who would pay him at the time. In 2007, he helped to set up both Imbibe magazine and the Sommelier Wine Awards, and has spent much of the last three years eating, drinking, and listening to French sommeliers talk about minerality. In 2009 he was shortlisted for the Louis Roederer Feature Writer of the Year, but didn’t win. Perhaps he should have stuck to horoscopes. And mince.

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