Beer: uniting the crowd! Campaign and campaign, beer has brewed up millions from global investors. In the first 12 hours of the Wellington-based craft brewers ParrotDog equity crowdfunding campaign on PledgeMe raised their minimum goal of NZ$1,200,000. Within the day, the brewers raised more than NZ$1.73M from more than 685 backers. 29 days remain on their campaign. ParrotDog is seeking to raise up to NZ$2,000,000, which represents 16.81% of the company and is the cap on equity crowdfunding in New Zealand. Shares are priced at $1 each with a minimum investment of NZ $500. Investors will receive additional rewards with each share parcel sold, including benefits such as a personalised glass handle at the bar, beer and food discounts, while those who invest over NZ$35,000 will receive voting shares.
ParrotDog will spend the money on moving from their current Vivian Street brewery to a larger space in Lyall Bay, which they plan to have up and running within the next few months. Moving into this new building will enable ParrotDog to triple production and have their own on-license bar.
“We’re blown away by the support of our crowd. Now we need to get to work and build our new brewery!”” shared ParrotDog co-founder Matt Stevens. “Its fantastic to see the range of investors that are pledging. A lot of people we’ve discussed the offer with are first time investors and excited about becoming shareholders. I feel the introduction of crowdfunding is great for the New Zealand economy as a whole as it frees up the flow of capital from everyday kiwis to growing businesses. We’re starting our expansion plans and as we expand we hope to grow our shareholders investment.”
Founded in 2011 by Stevens, Matt Kristofski, and Matt Warner, ParrotDog is described as one of the “leading” craft breweries in the Wellington area and has been awarded the Champion International Small Brewery as well as multiple awards from the Australian International Beer Awards. By moving into a brewery, ParrotDog will be able to triple production and have the space to create a Wellington brew bar.
“First they broke our website, and then they broke our records. This is the second time we’ve been blown away by the supporters of a Wellington craft beer company,” exclaimed PledgeMe CEO Anna Guenther regarding ParrotDogs achievement. “With the launch of this campaign, we’ve now passed the $10 million mark pledged through the platform, and ParrotDog are now our largest funded campaign.”
ParrotDog’s campaign closes on 9 September, or until their maximum goal is met. In the mean time, grab a DeadCanary, Pande-monium, Clippedwing, Blood-Hound and or a BitterBitch Ale and watch this odd, yet entertaining video below.
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