Independent wine merchant Humble Grape is looking to expand even further, calling on the help of wine lovers and launching a crowdfunding campaign on Seedrs later this month.
Following the grape success of its two sites – Humble Grape Battersea (2015) and Humble Grape Fleet Street (2016) – the booming business is set to open another two sites later this year, both already secured and fully funded.
Importing over 400 wines from 11 countries, Humble Grape's crowd-funding campaigns are anything but humble, raising a total of £535k from its first campaign in 2014 (pre-valued at 1.4m). First-round investors have already seen their investment increase eightfold, with the second campaign aiming to raise £750k-£1m, with the pre-valuation set at £10m based on revenue since 2009.
'This is about offering our customers the opportunity to become further invested in Humble Grape,' said founder James Dawson. 'We've let customer feedback and input shape our brand so far and no matter how big we grow, I want this to continue. We’re all about bringing our customers closer to the source, connecting them with the winemakers and giving them access to wines that would otherwise be unavailable.'
The money raised will go towards opening sites five and six and towards growing the Wine Club and Wine Bank. We heard through the grapevine that investors will also gain additional privileges and discounts, as well as being the first access to new imports and opportunities to visit different vineyards.