Melbourne-based beer brand, Sample Brew, plans to use equity crowdfunding to fund initiatives including brewpubs and new product lines.
Sample and Birchal – Pozible’s new equity crowdfunding platform – this week announced the brewer’s bid to become the first Australian company of any sector to take advantage of the new crowd-sourced funding regime when it starts on September 29.
At this stage, the brewer has provided no detail on its funding target, nor the percentage of equity that it would be making available to investors.
“It’s hard to disclose the amount [to be] raised due to legal issues and before the legislation is passed at the end of the month,” founder Vedad Huric told Brews News.
“We have a clear growth plan that we are executing well now and would be looking to raise more capital to accelerate this plan,” he said.
“We are still at [the] early stages of this process and the exact details will be determined in due course at [the] Expressions Of Interest stage.”
The company’s other motivation is to build a sense of brand ownership among its investors, who would gain access to an “exclusive club” called The Sample Collective, which provides special offers and exclusive privileges.
“We want to focus on product development to add new and exciting new lineups to our Fine Beer range,” Huric added.
“We are currently exploring possibilities for Sample’s very own brew bars and establishments. This exciting exploration will see us develop unique national premises that showcase evolved food, beverage and design experiences in Melbourne, Sydney and Brisbane.”
Sample Brew launched its first beer in 2014 and is now available at more than 500 establishments, according to the company, which has also foreshadowed plans to export to China, Hong Kong and other global markets.
It grew sales to $2.3 million in 2016 and is on track to turn over more than $4 million this year.
“We’ve achieved this growth with very little funding until now by filling a gap in the market,” Huric said.
Sample aims to begin the Expressions Of Interest phase of its crowdfunding effort by the end of October.