On Friday, UK’s premium gin brand, Pinkster announced that it has attracted over £750,000 through its GrowthDeck campaign over the past month and a half. The company took to the crowdfunding platform in late March to raise £600,000 as it prepared its expansion phase.
Since its establishment in 2013, Pinkster has stocked in over 500 UK outlets, from retailers such as Oddbins, to e-tailers like Ocado and Amazon and a range of gastropubs, restaurants, hotels, farm shops and independent wine merchants. The premium gin recently launched in Australia and has announced that it plans to be distributed in the U.S. shortly.
The brand’s description reads:
“The base Pinkster spirit is distilled to Pinkster’s own recipe with five botanicals by G&J Distilleries, the leading distiller and bottler of spirits in the UK. This ensures a consistently high-quality base, produced cost effectively, in scalable quantities. Fresh raspberries, grown locally to the firm’s HQ outside Cambridge, together with two other secret botanicals are then macerated by hand in the spirit before being returned to G&J for bottling. The result is a deliciously dry gin, with a hint of fruit and an exceptionally smooth finish, appealing to both seasoned gin drinkers and recent converts. It makes a refreshingly different G&T especially when served with decent tonic, a raspberry and a sprig of fresh mint.”
Commenting on the success raising, Gary Robins, Co-founder of Growthdeck, noted:
“We set out just a few short months ago to drive up standards in the UK crowdfunding industry, and the speed with which Pinkster has surpassed its funding target shows that investors are responding strongly. We identified it as a company with huge potential for growth, not just because it is in a rapidly-expanding market, but because it is a well-run business that has already seen impressive growth in its turnover and distribution network.We’re delighted that investors agree that a venture capital-style approach, with real due diligence, exit plans, reporting and advisory, is what crowdfunding needs.”
Stephen Marsh, Pinkster’s founder and managing director, added:
“We’re slightly blown away that we raised the finance in just six weeks. The overwhelming response is a real vindication of our business model and successes so far. Thanks to the current gin revival, we’re growing fast with our turnover trebling over the last twelve months. This finance allows us to scale up the business by investing in staff, marketing and production facilities. And if we do reach the ceiling of £1,000,000, all for the better. This isn’t just about the funding either – Growthdeck’s advisers are already providing support and guidance that stands out from other crowdfunding platforms.”
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