Hops & Grain, one of the very first companies to raise growth capital under Reg CF crowdfunding, has successfully raised $765,970 on Wefunder. The San Marcos, Texas-based craft Brewery set a minimum funding goal of $50,000. According to the campaign page, 405 investors participated in the funding round. The Reg CF offer
closed after just 8 weeks closes on August 12th.
Hops & Grain will use the funding to expand operations by doubling their brewing capacity with a new facility.
Regulation Crowdfunding is a new option enabled by the recent passage of Title III of the JOBS Act, and allows everyday people (not just the wealthy) to make equity investments of as little as $100 in startups and small businesses. Wefunder, one of several FINRA-approved portals for these offerings, has become the clear leader in the space, hosting more than half of all Regulation Crowdfunding offerings. To date, Wefunder has helped its portfolio companies raise more than 6x the total of all the other portals combined.
Hops & Grain is a gold-winning craft brewery in Austin, Texas. The company brews and packages all of its own beer on-site and sells it throughout Austin and the surrounding areas.
Josh Hare, CEO of Hops & Grain, released a statement on the crowdfunding round;
“Working with Wefunder was a fast, simple way for us to raise money quickly and engage our patrons to invest in our company and help us open a second brewery. Crowdfunding is a terrific platform for small businesses like ours who may not catch the eye of traditional investors but have a loyal following of customers eager to help you grow your business. We would definitely work with Wefunder again; they made the whole process smooth and painless.”
Wefunder CEO and co-founder Nick Tomarello said Hops and Grain “did everything right” when it came to raising capital online.
“They made it easy and very rewarding for investors to contribute and we are thrilled that because of their fundraise and loyal customers, they will be able to open their second brewery in Texas.”
Reg CF, created by Title III of the JOBS Act, allows smaller companies to raise up to $1 million in funding from both accredited and non-accredited investors. Issuing companies may sell either debt or equity securities online via funding portals. Currently, Wefunder is the most active funding portal in the Reg CF space having listed the bulk of the offers filed with the SEC to date. They have also recently launched a bounty program where individuals may collect a commission for companies that end up raising capital on the Wefunder platform.
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