Just two days after launching its second equity crowdfunding campaign on Crowdcube, London-based Hop Stuff Brewery has successfully secured its initial £400,000 funding target from more than 450 investors. As previously reported, Hop Stuff Brewery was founded in 2013 and revealed it is currently on a mission to make craft beer more “approachable to everyday people. The brewery raised £58,120 through its first Crowdcube campaign.
“We focus on social experiences and work with pubs and bars across the UK (and around the world) to ensure people can enjoy a great beer without feeling daunted by the crazy world of Craft Beer. To our knowledge we are the only London brewery to be investing heavily in a Taproom expansion, aiming to open at least 8 by the end of 2019! Our Taprooms allow us to help people experience our beer in the way we want! With a new 65hl brewhouse to support our network, high internal sales as well as a growing international business we believe that Hop Stuff Brewery is the best placed brewer in the UK for rapid expansion.”
Speaking about the already Crowdcube success, the Hop Stuff crew shared:
“Wow, what an incredible 48hrs! We’ve funded over £400,000! Now we’ve smashed our min. Funding target let’s talk overfund. We have applied for EIS up to £800,000 however will now likely be on a time countdown rather than funding countdown. “
All funds from the Crowdcube campaign will be used to continue Hop Stuff’s expansion. The company also revealed a breakdown of where the funds will go.
Original £400,000: Taproom expansion, 2 new sites and working capital for each- Overfund £500,000: Taproom expansion and new Lab Equipment for HSB allowing us to reach BRC standards sooner
- Overfund £600,000: Taproom expansion, Lab Equipment, Investment into foreign markets to increase our footprint overseas in Asia and North America specifically
- Overfund £800,000: All of the above plus cash reserves to allow us to move quickly should a perfect property appear on the market
The campaign is currently set to close at the end of February.
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