A Sheffield-based brewery whose beers include Moonshine, Revelation and Deception, has just completed a crowdfunding campaign which smashed its target by 30,000%.
Abbeydale Brewery had the modest target of £21 (to mark its 21 years in existence), yet raised £6,435 from 269 supporters in 34 days and attracted over 550 participants.
On one day, Saturday 6 May, backers were able secure entry to a ‘Piss-Up in a Brewery’ party which included brewery tours, beer tastings, street food and music.
The brewery, which is looking for a new, custom-built brewery, organised the ‘Piss-Up in a Brewery’ party as a first part of a multi-step strategy towards funding their expansion.
The crowdfunding campaign was organised by fellow Sheffield-based business the Crowdfunding Center.
Founder of the Crowdfunding Center Barry James said: “We collect data from around the world on the rise of crowdfunding and to help build the industry and ecosystems so it can thrive.
“We’ve been too busy with that to help individual businesses until now, but when local success story Abbeydale Brewery approached us about their hugely ambitious plans for the future, and asked whether they could be crowdfunded, we couldn’t resist putting what we’ve learned to work for another Sheffield business.
“This is just the beginning but we’re delighted, not so much that it closed at over 30,000%, but that as a result a company that has been selling to the trade until now, has been visited by a new crowd of more than 550 potential investors!
“What this, along with all the data we’ve collected from 500,000 crowdfunds around the globe, tells us is that crowdfunding is not just about funding apps, tech and start-ups within sight of Silicon Roundabout but real businesses across the UK like Abbeydale Brewery fostering growth, success and creating more jobs. We’re excited about what comes next!”
Sue Morton, co-founder of Abbeydale Brewery, said: “We’re delighted by the interest this has stirred in our future plans, not to mention over 550 people through our doors in one day – all potential backers and investors – and many of them asking when they might be able to invest already.
“After 21 years we’ve long been established as a leading brand but this kind of buzz and engagement goes beyond that, and is just what we need: a big step forward towards our ambitions for the next stage of Abbeydale Brewery.”