Tyne Bank Brewery takes Crowdcube past major milestone

Tyne Bank Brewery takes Crowdcube past major milestone

Top equity crowdfunding platform, Crowdcube, has hit a major milestone, with the 400th business successfully funding on the platform.

Craft beer maker, Tyne Bank Brewery, raised £213,320 from 360 investors, surpassing its target of £150,000.

This takes the total amount raised on Crowdcube by start-ups, early and growth stage businesses to £163m, attracting 282,175 investors in just over five years of trading.

This milestone comes on the back of a number of other important milestones for Crowdcube, including this year’s record-breaking crowdfunding campaign for Mondo, which saw the challenger bank raise £1m in just 96 seconds.

It also follows the first ever crowdfunding exits last year, with E-Car Club, sold to Europcar, and Camden Town Brewery, which was bought by AB InBev, the world’s biggest drinks company.

Luke Lang from 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.”

As one of the first to come directly through Crowdcube North, Tyne Bank Brewery follows the recent success of Dirt Factory, the UK’s first indoor bike park based in Manchester, which raised £431,890 to enable it to open more facilities across Europe.

The brewer plans to use the investment to move to larger premises in Newcastle Upon Tyne, which will include a craft beer tap room and event space, as well as room to house a kegging, bottling and canning line to help scale up production.

BQ recently profiled Tyne Bank Brewery's crowdfunding success, see the article here.