Independent wine merchant and wine bar concept, Humble Grape, has successfully secured more than £850,000 out of its £1 million funding target through its new equity crowdfunding campaign on Seedrs. The funds will be used for the company’s expansion.
As previously reported, back in 2014, Humble Grape raised over £500,000 on Seedrs. The company says it has grown quickly since that time and now employs more than 35 staff and imports over 400 wines from 11 different countries. Today, the company has claimed early investors have seen their investment increase eight-fold. The new campaign seeks to raise between £750,000 -t0 £1 million, with the pre-money valuation set at £10 million. Founder of Humble Grape, James Dawson, stated:
“This is about offering our customers the opportunity to become further invested in Humble Grape. We’ve let customer feedback and input shape our brand so far and no matter how big we grow, I want this to continue. I believe in crowdfunding because it gives customers who believe in a brand the opportunity to become a part of its growth and share in its success. Were 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. I want Humble Grape to belong to the people who believe in what we are doing.”
Recently, Humble Grape announced it was named Best New Bar Battersea at 2016/2017 DesignMyNight Awards. The company revealed in a post on Twitter:
— Humble Grape Wine (@humblegrape) March 24, 2017
Humble Grape expects to expand across London with each location maintaining a unique identity, taking into consideration the local community and personalised USPs.
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