BrewDog launches funding round for US expansion

By Sumit Modi

Scottish craft beer company BrewDog has launched a crowdfunding round to aid its expansion in the US.

The business is hoping to raise $50 million in six months for its Equity for Punks USA investment scheme. This is its fifth fundraising scheme and the first American one. 

Construction of a 100,000 square foot Columbus brewery is underway and will open later in the year. This will include a retail section and visitor center as well as a spaces for drinking and dining.

The company's last UK crowdfunding round raised £19 million to expand its brewery in Ellon, Aberdeenshire, but fell short of its target. However, it has managed to raise £26 million in total since the first attempt in 2009.

Brewdog has over 40 bars across the UK and overseas, also exporting to 55 countries and employing more than 600 people. 

As reported by the BBC, Brewdog co-founder James Watt said: "Equity for Punks is a completely new business model in the States - it's a revolution in small business finance.

"We're asking beer fans to help us change the face of small business finance in the US and spread our passion for great craft beer.

"Few companies have been so bold as to turn their backs on traditional financial institutions in favour of a brave new world of community-driven business.

"We've pioneered the Equity Punk model in the UK, and now we're bringing our unconventional approach to alternative business stateside."

 

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