Beer CartelBusiness

Beer Cartel crowdfund raises $500K in less than 48 hours

A crowdfunding campaign by Beer Cartel that offers the public shares in the business has raised $540,000 in just 48 hours.

The campaign was launched privately on Tuesday, leading to 400 new shareholders. Building on the success from the first two days Beer Cartel is now looking to welcome more investors as it seeks to raise up to two million dollars in its equity raise through crowdfunding platform Birchal, with the campaign opened to public investment today.

The crowdfunding initiative follows a successful 2020 where the business saw strong growth, including a 75% jump in online sales over the past 12 months.

“What we’ve seen following the success of last year is huge interest in the raise and we’re truly excited to now open it up to the wider public,” said Richard Kelsey, co-founder of Beer Cartel.

“We had the second highest number of people register their interest in investing in the business that Birchal has ever seen. It’s very exciting seeing this translate into people investing in the business”.

Investing in Beer Cartel not only gets investors a shareholding in the company but also comes with a number of perks.

“We had a think about what our customers love most and are rewarding those that do invest with benefits that include discounted rates, free shipping and credit towards buying beer,” Kelsey said. “We want to make this an exciting investment that isn’t just about a shareholding in a business, but one where they are rewarded and where their feedback helps guide the future of Beer Cartel.”

The crowdfunding campaign will be used to accelerate Beer Cartel’s growth into the future.

“Over the last five years we have been growing approximately 25% year on year,” Kelsey said. “While we’re really happy with this, there are a number of key projects that we’d love to undertake to accelerate this growth. That’s what these funds will really drive.”

The Beer Cartel team

Key projects include refinements to Beer Cartel’s website, further building marketing capability, growing Beer Cartel’s beer subscription (Australia’s longest running), and developing a membership model to benefit existing customers.

“An investment through Beer Cartel’s crowdfunding campaign begins from as little as $100, equivalent to the cost of a couple of cases of beer,” Kelsey concluded. “From there we’ve got different investment tiers to suit everyone’s budget. For us, as well as the investment, we’re really focused on bringing new shareholders into the business who share the same passion as us, wanting to support the growth of craft beer in Australia.”

Watch the video presentation for the crowdfund below:

For more information:\

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Categories: Business