Scottish brewer and bar operator BrewDog has raised £5million in just 20 days as part of its latest £25million Equity for Punks crowd-funding scheme.
The company has made 526,316 shares available, for a minimum investment of just £95 for two shares, for funds to invest in its brewing operations and a new distillation plant and in expanding its bars in the UK and overseas.
To mark the £5million milestone, founders James Watt and Martin Dickie (pictured) took to the skies in a helicopter to drop stuffed “fat cats” in parachutes, carrying their share prospectus, over the City of London
The cats – wearing waistcoats, monocles and handmade velvet top hats – were intended to mock the traditional “fat cat” banker caricature that the pair have rejected in favour of crowd-funding. Click here for a video of the “fat cat” drop.
James said: “This round of Equity for Punks has got off to a great start so we went behind enemy lines to conduct a symbolic gesture that heralds the extinction of the City fat cat.
“This is our way of showcasing the viability of alternative forms of finance – it is our own anti-propaganda propaganda. It’s a glorious combination of art, guerrilla warfare, taxidermy and feline sartorial elegance.
“Crowd-funding should no longer be seen as a niche alternative, but a proven, workable option for those libertines and change-makers who want to shake up the status quo.”
The £25million target is more than five times the £4.25million that BrewDog raised in less than six months through Equity for Punks in 2013.
“Raising £5million in less than three weeks is no small feat,” James added. “Many questioned our target of raising £25million, but we’ve passed the record we set in 2013 in a fraction of the time.
“It’s proof that there is a thirst for alternative finance out there, and that people are sick and tired of the fat cats controlling everyone’s money.”
BrewDog has opened 27 bars worldwide since 2010 and exports its beers to 50 countries. Last year, it increased annual turnover by 63% to more than £29.6million.
Investors in Equity for Punks not only own part of the BrewDog business but receive benefits including a discount at BrewDog’s bars globally and at BrewDog.com. Members are also invited to attend the company’s AGM – the next of which takes place on June 6 – which features punk rock bands and beer tastings.