Update: BeerBod Surpasses £250,000 Funding Goal Thanks to Nearly 275 Crowdcube Investors

With its latest Crowdcube campaign set to close in less than two weeks, online beer retailer Beerbods has successfully secured its initial £250,000 funding target thanks to nearly 275 investors. 

As previously reported, the company launched the initiative as it prepares to expand its online retailing platform. Over the past two years, it has debuted a range of new products with its subscription service, which includes an online shop, along with BeerBods for Business and BeerBods Live. The company stated it has nearly 4,000 active subscribers and frequent basis. It has also sold more than £1.4million of beer. Founder and managing director of BeerBods, Matt Lane, recently revealed what the company has been up to since its first equity crowdfunding campaign closed just three years ago:

“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.”

Lane also noted:

“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.”

The campaign is set to close on August 22nd.