Endeavour Brewing Co’s equity crowdfunding campaign closed last night with the Sydney brewery exceeding its minimum target.
The campaign achieved 183 per cent of its minimum funding target raising a total of $558,100, but fell short of its full subscription offer.
Hosted by Australian crowdfunding platform Equitise, Endeavour’s minimum target was $305,000 – its maximum was $2,305,000.
Endeavour founder Ben Kooyman said that he is excited and thankful the amount raised exceeded the minimum target and that the company now has over 550 investors nationally.
Kooyman told Brews News that he is yet to crunch the numbers but said that the money raised through Equitise will compliment the funds previously raised through Endeavour’s existing shareholders.
He said that the money will be used to focus on Endeavour’s wholesale production and hospitality goals.
When the campaign was launched in December last year, it was an Australian first.