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Chapel Down smashes crowdfunding target to raise £1.7m for craft beer and cider brand

Wine producer Chapel Down has overfunded by 71% in its crowdfunding effort aimed at raising equity for its nascent craft beer and cider business.

The Kent-based firm raised £1.7m for its Curious Drinks brand, the firm’s first move outside of the wine market, on crowdfunding platform Seedrs, far exceeding its original £1m target.

Launched in October 2015, the crowdfunding campaign has attracted investment from 895 new shareholders, each investing from £100 to £35,000, who will benefit from a range of shareholder rewards such as an ongoing 25% discount and limited edition bottles.

Chapel Down hopes to use the new funds, which also include £550k raised through a new share placing, to construct a new brewery and visitor attraction in the Kent town of Ashford, as well as look to expand its Curious Drinks team and increase the brand’s profile at home and abroad.

Frazer Thompson, Chief Executive Officer of Curious Drinks, said: “The success of our Curious Drinks crowdfunding campaign is further testament to the revolution taking place in the British beer business.

“Customers want great beer and we’re delighted that they love Curious as much as we do. We are pleased to welcome nearly 900 new shareholders who we know will become fantastic brand ambassadors.

“Since launching Curious Drinks, we have been thrilled by its rapid success. But to have earned the support of 895 shareholders who believe in the brand and who want to support us on our journey with their hard earned cash is truly humbling.”

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