Online beer retailer, BeerBod, has returned to equity crowdfunding platform Crowdcube just three years after securing £151,490 from 101 investors. The company is currently seeking £250,000 as it prepares to expand its online retailing platform.
In the last two years, the company has launched a range of new products with the subscription service, which includes an online shop, BeerBods for Business and BeerBods LIVE. BeerBods noted that it has nearly 4,000 active subscribers and another 14,000 members who purchase mix cases or gifts from its website on a less frequent basis. Since its debut five years ago, the company has sold more than £1.4million of beer.
During a recent interview with Crowdcube, founder and managing director of BeerBods, Matt Lane, revealed what the company has been up to since its first equity crowdfunding campaign closed:
“Since then we’ve grown our subscriber numbers four-fold, our revenue five-fold, and our team six-fold. In the last two years we’ve launched a range of new products on top of our subscription service, including an online shop (where we mainly sell themed mixed cases to existing subscribers), BeerBods for Business and BeerBods LIVE. We’re really proud of the progress we’ve made since raising one relatively small round of seed investment. We have made a small trading profit in the last financial year and are in a strong cash position. Our lean business model built on organic growth will hold us in good stead as we look to scale the business.”
In regards to where the funds from the latest Crowdcube campaign will go towards, Lane added:
“We’ve built a decent ship. Now we want to set sail. We want to be much more ambitious in recruiting new customers and invest in a comprehensive marketing strategy. We’re also bringing a tech team in-house to develop our ideas for new products and services – aiming to further disrupt the industry. BeerBods for Business has got off to a storming start and we’re looking forward to throwing more time, money and people at it.”
Since its launch, BeerBods second Crowdcube campaign has raised nearly £150,000. It is set to close in late August.
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