Donnerstag, 21. November 2013

BrewDog Bang Drum

BrewDog, founded by Martin Dickie and James Watt in 2006, has already raised almost £7 million through its “Equity for Punks” scheme, and earlier this month raised the target for its latest funding round to £4.25m.

The economy committee was taking evidence as part of its probe into access to finance among small firms, and Tim Wright, director of Glasgow-based advisory firm Twintangibles, said there are now 900 crowdfunding platforms around the world.

Wright said there was a “general lack of awareness” of crowdfunding among institutions such as Scottish Enterprise, although some banks have told him they would be more willing to lend to a company if it had already succeeded in raising funds from individual investors.

Asked by Green MSP Patrick Harvie why BrewDog had gone down the “homebrew” route rather than turning to established crowdfunding sites such as Crowdcube or Kickstarter, Simpson said the costs of going it alone were “significantly” lower than using a platform, although it would explore those options if it had to start from scratch again.

Simpson said it was difficult to put an exact figure on the extra value generated by raising funds directly from the company’s fans, “but we have 12,000 sales reps on the road for our brand and they have a vested interest in its success”.

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