Quantock Brewery Exceeds Crowdfunding Target
Somerset’s Quantock Brewery exceeds its crowdfunding target by 20%
The latest success story from the world of crowdfunding is that of the Quantock Brewery in Somerset.
Established in 2007, the brewery was set up to brew quality real ales in both cask and bottle using traditional brewing methods.
The family-run business set out to raise £100,000 on the equity crowdfunding platform Crowdcube and exceeded its target by 20% to raise £120,000.
Now, the brewery has 130 new part owners with a 48% equity stake and is on track to increase production and ratchet up its marketing.
Rob Rainey, the founder of Quantock Brewery, said of the latest round of equity funding raised through Crowdcube:
“In the past getting money to grow the business has been a tedious process using traditional routes and it’s so refreshing to discover crowdfunding.”
“We are delighted that the bid has attracted so much interest that we’ve ended up with an extra £20k and a great loyal following. This will help us to expand the brewing capacity and our sales and marketing territory. We have initial enquiries for retail and export which are exciting opportunities.”
Luke Lang, Crowdcube’s co-founder, added:
“Food and drink is one of the most popular sectors on our platform, accounting for £4.1 million and 18 out of the 56 funded pitches since 2011. And of this, drink alone represents about 75% with £3.2 million. I think this reflects the nation’s appetite to support exciting upcoming British food and drink brands.”
Small businesses looking for their own “armchair dragons” to get their venture growing, can take a look at the article in our Get Britain Growing section – Crowdcube – Transfroming Equity Finance.