Less than a week after launching its equity crowdfunding campaign on Crowdcube, Spanish “urban craft distillery,” Santamanía, has successfully secured its initial £400,000 funding goal and is now nearing £585,000 thanks to more than 200 investors.
As previously reported, Santamanía’s spirits are sold throughout Spain and in 19 other countries in Europe, Asia-Pacific (including Australia), Canada and South America. The distillery has notably released 11 products to the market and has been awarded 20 International Awards from various institutions from US, Europe, and Asia.
“Our bottled spirits are sold throughout Spain and in 19 other countries in Europe, Asia-Pacific (including Australia), Canada and South America. International expansion is part of our plan, and our plan is to create 4 small commercial branches to manage our expansion into these markets. Our target market demands quality over quantity – they want to drink better, not more – and this market is growing fast globally.”
While explaining why they decided to launch the Crowdcube campaign, the Santamanía crew stated the initiative was launched on the equity crowdfunding platform due to the international nature of their business. The offer is for 5.41% equity stake in the company at a pre-money valuation of nearly £7 million. Funds from the campaign will be used for the following:
- Double distillery Space to around 2,000m² with a bigger cellar to increase production of brown spirits (such as rum)
- A new and larger Carl Copper Still for Vodka & Gin production to increase capacity up to 2.5m liters/year
- Larger Bottling Line to increase efficiency and bottling capacity to meet expected demand
The company added that further funds would allow a greater acceleration of growth. The campaign is set to close at the beginning of July.
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