Member Article

Tyne Bank Brewery set for expansion following successful crowdfunding campaign

Tyne Bank Brewery, the craft beer maker, has crowdfunded £213k from 360 investors to expand to larger premises in Newcastle.

The brewer plans to move to a facility which includes a craft beer taproom and event space, as well as room to house a kegging, bottling and canning line to help scale up production.

Originally seeking £150k, the firm has smashed its target and can now look forwrad to scaling up production.

The business is the 400th to come through the equity crowdfunding platform, which has now attracted over 280,000 investors and raised over £160m in five years.

Tyne Bank Brewery has come through the Crowdcube North office, which recently opened in Manchester to cope with the demand for crowdfunded investment in the region.

Its success follows that of Dirt Factory, the UK’s first indoor bike park based in Manchester, which raised £432k to enable it to open more facilities across Europe.

Luke Lang at Crowdcube said: “Last year was a game changer for Crowdcube and for the crowdfunding sector in general.

“We thought it would be difficult to top, but 2016 is turning out to be just as significant in terms of the amount and speed at which funds are being raised and the growing sophistication of the crowd.

“More significantly for the sector perhaps, is the merging of alternative and traditional investment as we continue to collaborate with venture capital and institutional investors to co-fund raises.”

Visit the brewer’s Crowdcube page here.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →