HonestBrew drinks to £406,000 Crowdcube funding
2015 Startups Awards finalist closed oversubscribed crowdfunding round with backing from 440 investors in exchange for 19% equity
Craft beer retailer HonestBrew has raised £406, 390 via equity crowdfunding platform Crowcube; 135% above the start-up's original £300,000 target.
440 investors backed the crowdfunding campaign – the largest funding amount set at £150,000 – in exchange for a share of 19.29% equity.
Launched in 2013 by Andrew Reeve, London-based HonestBrew aims to “bring the world of craft beer to your home” and delivers thousands of craft beers from over 50 worldwide breweries to homes and offices across the UK.
It claims to have achieved 28% month-on-month growth and plans to use the funding to become the “best craft beer delivery service” globally.
The funding follows the start-up's earlier investment this year when it secured £250,000 from a group of high-profile angel investors.
HonestBrew is a finalist for Retail Business of the Year at the prestigious Startups Awards 2015, find out more about the awards here.