Less than 24 hours after launching its equity crowdfunding campaign on Crowdcube, cider subscription company, Crafty Nectar, has successfully secured its initial 100,000 funding target from more than 100 investors.
The company states its mission is to connect people with exciting ciders made in the traditional way. Its ciders are sourced from independent producers. It also aims to provide the UK’s largest list of craft ciders to trade customers, at a cheaper price than buying from national distributors, with no minimum orders.
“Sourcing ciders from independent producers and delivering straight to the customers’ doors, Crafty Nectar provide a cider subscription service. With £85k revenue to date, the company now offers UK wide distribution for trade customers, with the aim to widen the availability of craft cider for all.”
Funds from the equity crowdfunding campaign will be used to develop our trade portal, increase marketing spend, and hire additional staff to accelerate growth on the trade side. Although the initiative has been successful so far, Crafty Nectar is dealing with another issue. The company’s team revealed:
“We believe in complete transparency and wanted to inform our following of this as soon as possible. It has been brought to our attention by a competitor of ours that they believe that we have infringed copyright law. We want to assure current investors and potential investors that we are working with the business to resolve these issues as amicably and as quickly as possible. Please rest assured that this will not affect our mission to connect and educate the people of the UK about craft cider through our subscription and wholesale business.”
The campaign is set to close mid-August.
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