Scotland business

Craft brewer BrewDog launches $50m US funding round

BrewDog bottles Image copyright BrewDog

Craft brewer BrewDog has launched a $50m (£38m) crowdfunding round to help fund major expansion plans in the US.

The Aberdeenshire-based firm hopes to raise the money in six months.

Its Equity for Punks USA investment scheme is the fifth fundraising venture by the brewery, and its first in America.

BrewDog is currently constructing a new 100,000 sq ft brewery in Columbus, Ohio, which is scheduled to open later this year.

It will feature a restaurant, taproom, retail space, visitor centre and beer garden.

The Ellon-based company has raised more than £26m since launching its first Equity for Punks crowdfunding round in 2009.

Its last UK round raised £19m to fund growth plans, including expanding its brewery in Ellon and opening new bars. The round, which closed in April, fell short of its £25m target.

BrewDog's British business now employs more than 600 people globally and exports to 55 countries. It also operates more than 40 bars in the UK and overseas.

Image copyright BrewDog
Image caption BrewDog is constructing a new 100,000 sq ft brewery in Columbus, Ohio

BrewDog co-founder James Watt said: "Equity for Punks is a completely new business model in the States - it's a revolution in small business finance.

"We're asking beer fans to help us change the face of small business finance in the US and spread our passion for great craft beer.

"Few companies have been so bold as to turn their backs on traditional financial institutions in favour of a brave new world of community-driven business.

"We've pioneered the Equity Punk model in the UK, and now we're bringing our unconventional approach to alternative business stateside."

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