As many Crowdfund Insiders know, beer campaigns have raised incredible amounts of funding over the years — who can forget BrewDog, Garage Beer, Sly Fox, BeerBods, The Bottle Shop? On Crowdcube alone, Chadlington Brewery, Crowns and Hops Brewing Co, Redwell Brewery and Crate Brewery are currently raising funds.
Leading the pack is Crate Brewery, a microbrewery and pizzeria located at The White Building in Hackney Wick, London, which is now overfunding on Crowdcube. The brewery surpassed its initial £500,000 target goal, with a current raise more than £566,310 from 982+ investors for 4.51% equity offered. With a pre-money valuation set at £12,000,000, Crate Brewery plans to use the new finding to turn its “already wonderful space into a true mecca for craft beer fans and a proper hub for creativity.”
Co-founded by brother and sister team Tom Seaton and Jess Seaton, and Neil Hinchley, Crate Brewery is rallying to hit a new goal, after surpassing its initial £500K target goal.
“We have huge plans for the next 5 years to continue building and increasing the value of the business. After The White Building developments, one of the priorities will be to growing our the wholesale business. Now that we have reached our first funding target, we are looking to secure additional funding to accelerate the 2nd part of the plan by investing in a canning line,” posted the Crate team via Crowdcube. “Cans have become a huge player in the craft beer category and the demand of our cans is continuing to sky rocket. By investing in a canning line, not only will we have greater control of the product quality, but we will be able to increase significantly our profit margin…By reaching £750,000 investment, we can really accelerate our plans and deliver even more for your investment.”
The team stated that it would be releasing a further 2% equity for the additional £250K funding. Funding will enable Crate to add a state of the art brewery for experimentation and innovation, open a new restaurant with dishes inspired by a new culinary thinking, open a new event space and with year-round cultural events, double it taproom to 8000 sq ft and build 1000 sq ft affordable workspace/incubator. Crate reportedly achieved £3.95M turnover in FY 2018 with an EBITDA of £88K. The brewery also recently invested in sales & marketing heads and extended the lease on its White Building venue, setting the foundations for future growth. Crate also just secured a national listing in nearly 1500 Tesco stores.
Investment rewards range from beer and pizza to Private Boat party, which includes a 4 hour cruise for up to 50 people with food and drinks, with a value of £100pp. 10 days remain on Crate’s Crowdcube equity crowdfunding campaign; for more Crate Brewery updates and information, click here.
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