BrewDog raises £3m using ‘Equity for Punks’ online share scheme
Scottish brewery set to reach £4m funding goal though customer bond initiative
Aberdeen-based independent brewery BrewDog has today announced that it has raised £3m funding in two months through its online share sale initiative Equity for Punks.
Founded in 2007 by 2009 Young Guns James Watt and Martin Dickie, BrewDog has become one of Scotland’s largest independent breweries exporting craft beers to 38 international markets and it recently expanded its offering to include bars in both the UK and overseas.
Its Equity for Punks scheme, which re-launched on June 20 with 42,000 shares available, allows customers and “beer fans” to buy shares in the business via its website for a minimum fee of £95. As well as shareholder status, investors also receive benefits including lifetime beer discounts and invitations to its annual AGM.
On its first day of opening the brewery raised £1m and its current record sees it set to reach its target of £4m which it intends to re-invest in the expansion of its brewery and bar division. It will also utilise the funding to support the launch of a series of bottle shops across the UK.
The beer company began using retail bonds to source finance in 2011 with similar schemes used by major brands including King of Shaves, Naked Wines and Leon Restaurants as a method to raise funds directly through customers without the involvement of banks.
Watt commented on the success of ‘Equity for Punks’ so far:
“Raising £3m in just two months demonstrates the epic support behind the craft beer revolution. Equity for Punks is rewriting the rules of business finance and it’s putting our customers right at the heart of our operation.”