BrewDog smashes £10m mini-bond target
BrewDog started 2017 on a high by reaching its £10m mini-bond target on crowdfunding platform Crowdcube, securing the funds needed to expand the Scottish brewer’s bar division and breweries.
In total, 2,756 investors pledged £10m within 30 days and the mini-bond will pay 7.5% interest per annum over four years.
James Watt, co-founder of BrewDog (pictured above with fellow co-founder Martin Dickie), explained the funding will be used to accelerate company’s further expansion.
He said, “The money raised via this latest investment opportunity will accelerate our growth over 2017, in order to meet the crazy demand for our beer both in the UK, internationally, and in America where we’ll soon launch our second brewery.”
The minimum investment for the BrewDog Bond was £500 and it will be paying out the return bi-annually.
According to BrewDog’s crowdfunding pitch, the money raised will help the company to expand into more international markets, as well as invest in the Aberdeenshire brewery to help keep up with ever-increasing demand from European markets.
BrewDog will also be investing in its new American facility in Columbus Ohio, as well as its growing bar division both in the UK and abroad.
This is the second time BrewDog has launched a mini-bond on Crowdcube, with its first in September last year raising nearly £2.5m.
Since launching its first Equity for Punks scheme in 2009, BrewDog has accrued a 50,000-strong army of supporters who have invested more than £26m to date.