Scottish craft brewer BrewDog has failed to reach their £25 million target in its latest crowdfunding round, which closed on the 20th April.
The brewers are veteran crowdfunders, having launched four “Equity for Punks” crowdfunding rounds since 2009. This time, the company obtained £19 million – £6 million short of their target. On their website, BrewDog remained upbeat about the outcome:
“With more than 42,000 Equity Punks now drafted in to our ranks, we have accrued a global gathering of craft beer crusaders to help us on our explosive mission to make other people as passionate about great beer as we are.”
It is hard to say what effect the shortfall will have on plans for expansion, which includes building a bigger brewery, launching a new canned beer range and opening more UK bars. The company are aiming to expand into America, launching a crowdfunding round for US residents and planning to open a brewery in Ohio.
Whilst applications on Crowdcube may have closed, BrewDog are still accepting paper applications until April 29th. For more information, visit their website.
Miranda Wadham on 21/04/2016
