Over 1620 investors have poured more than £1,074,980 into Northern Monk Brewing Co.’s Crowdcube campaign. The brewer successfully surpassed its initial funding target of £500,000 for 9.71% equity in a few hours during the campaign’s first day. Founded by Russell Bisset in 2013 with brewing history and heritage as his inspiration, Northern Monk Brewing Co. was seed funded with a £5,000 gift from Bisset’s grandmother; sales have doubled each year for past three years for the Holbeck, UK brewer, with an EBITDA of £255,809 in 2017. Head Brewer Brian Dickson has been with Northern Monk since 2013 and has overseen the sharp increase in production capacity while also concocting recipes for some of the world’s most sought after beers.
[clickToTweet tweet=”Over 1620 investors have poured £1M+ into @NMBCo @Crowdcube campaign. #brewery” quote=”Over 1620 investors have poured £1M+ into @NMBCo @Crowdcube campaign. #brewery”]
With sales in 22 countries and counting, the brewer is now ready for expansion:
“Over the next 2 years, we plan to triple capacity, invest in a new canning line, build on our wild beer and barrel programme and open tap rooms in London and Manchester,” explained the Northern Monk on its campaign. “With a community focus at our core, we wanted to give our community the chance to join us for the rest of our journey.”
Speaking about its Crowdcube’s success, Northern Monk Brewing Co. added:
“First an foremost, a huge, huge thank you to all of you! We are still recovering from yesterday’s response to our public live launch of the campaign and making our way through the emails but we wanted to take just a couple of minutes to update you all as to where we are….We did plan to keep you all updated via email as we reached each milestone of the funding campaign but you guys had other idea’s and kind of blew those plans out of the water by sending is rocketing into overfunding within hours…. We will be adding an extra perk to our Higher Brethren cardholders (anyone who has invested the £100+). This will be a 24 hour exclusivity period for our online store so that you guys will be the very first to get our beer in your hands.”
Funds from the campaign will be used for continued expansion of the brewery, and now with the excess funds, looks like the preferred brewpub option selling exclusively on-site in the Capital will come to fruition. 23 days remain on the campaign.
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