London canned wine company toasts to crowdfunding success with £600k raised

An East London wine brand has announced that its £400k crowdfunding campaign has closed after hitting 150 per cent.

HUN, which produces canned wine, has closed its first equity crowdfund after exceeding its target by £200k, reaching £600k in just eight days.

The funding will be used increase distribution across the UK, expand into new global territories and for new product development.

The campaign received backing from 456 investors with 13 per cent equity offered on a pre-money evaluation of £4m.

Mark Woollard, founder of HUN, commented: “We are thrilled to have smashed our crowdfunding target of £600k, just over a week since the launch of the campaign.

“As the first canned wine business to crowdfund we were anxious to see how investors would react, but we can now say there is faith from our community in both canned wine and the HUN business.

“Due to the success of the campaign, we are now one step closer to achieving our ambition to become the world’s biggest canned wine brand and we have some really exciting plans for 2021.

“We can’t wait to take our new 456 investor HUNs along for the ride with us.”