BrewDog raises £1m in 24 hours from crowdfunding scheme
- 25 June 2013
- From the section Scotland business
Scottish brewer BrewDog has raised more than £1m from investors in just 24 hours after launching a crowdfunding scheme to fund expansion plans.
The Aberdeenshire-based firm is attempting to raise £4m from its Equity for Punks share offer.
It is selling shares to fund expansion of its Ellon brewery, bar division and a new chain of "bottle shops" across the UK.
The company is making 42,000 shares available at £95 each.
BrewDog raised £2.2m through the same scheme in 2011.
Shareholders will receive a lifetime discount at the company's bars and online shop.
Crowdfunding is a method of raising equity by asking a large number of people each for a small amount of money, often via the internet.
BrewDog has reported average annual growth of 167% and says it is on track to reach turnover of £20m in 2013.
The company has opened 12 bars since 2010, including its first international location in Stockholm, Sweden.