Northern Monk has become the latest brewery to go down the crowd-funding route. The Leeds-based brewery is seeking to raise half a million pounds to fund a major expansion programme, aimed at tripling capacity.
It marks an astonishing rate of growth for a business that started in 2013 in a parents’ cellar, with an investment of just £5,000.
The following year, MD Russell Bisset and head brewer Brian Dickson renovated the Old Flax Store in Holbeck, south of the River Aire. The venue now pulls in over 1,200 people a week, with Northern Monk selling its beer in over 20 countries.
The company plans to use the £500,000 to buy eight 10,000-litre fermentation vessels and invest in a more modern packaging facility.
Should the campaign surpass expectations then the team will look at opening up a second Tap Room in London or Manchester to go with the one it already runs in Leeds.
‘We’re hoping to turnover £4m by the end of this financial year,’ said Bisset. ‘It’s been a wild four years. This is your chance to join us for the rest of it.’
The first round of investment launches on Monday 26 February. Investors will get shares, merchandise and discounts on the beer, depending on their level of investment.
Visit northernrising.com for more details.