Scotland’s biggest independent brewery Brewdog just revealed that it raised £5 million ($US7.8 million), via its crowdfunding scheme Equity for Punks, in just 20 days.
This is a massive milestone because in 2013 it raised £4.25 million ($US6.63 million), minus costs, in just over six months.
It also has purposely aimed to raise £25 million ($US39 million) in total across its crowdfunding scheme in a bid to stop financial institutions from cashing in on its fundraising efforts.
To celebrate Brewdog hitting a fifth of its target in such a short space of time, the group, which possibly has the most outspoken company owners in the industry, dropped taxidermy “fat cats” over London to prove a point.
“We’re very pleased with the response Equity for Punks has received. 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,” said BrewDog co-founder James Watt in a statement.
“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.
“Crowdfunding 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.”
Brewdog was founded by Martin Dickie and James Watt in 2007 with second-hand equipment. It is now Britain’s fastest-growing food and drinks brand. It has opened 27 bars worldwide since 2010 and exports to 55 countries around the world. It employs more than 360 staff.
Earlier this year, Brewdog announced its sixth consecutive year of record growth. It increased its annual turnover by 64% to over £29.6 million in 2014, compared with £18 million in 2013. Its turnover is expected to exceed £50 million this year.