Another day, another record. Not a week seems to have passed in 2014 without Crowdfunding records being beaten and milestones being reached. Alternative Finance seems to know no bounds! The latest eye catching record has been achieved by an English winery called Chapel Down.
They turned to Crowdfunding in a bid to raise £1,667,507 with 6.48% equity offered, they have smashed their target raising £4m for 14.11% equity, the largest ever Crowdfunding campaign in the UK to date. Chapel Down have said that they intend on using the money raised to plant more vines to satisfy the current demand, to build a new winery and a brewery. In addition to this it plans on extending its Tenterden hospitality facility.
The CEO, Frazer Thompson, has stated that he wanted “to provide an opportunity for his customers to share in the success of the business”. The 1,400 private investors will not only become shareholders in Chapel Down but will also enjoy some great discounts and offers on a range of their products.