The East London Liquor Co smashes crowdfunding target in 24 hours
The East London Liquor Company has revealed it smashed its original crowdfunding target within 24 hours.
The campaign, which aimed to raise £750,000, exceeded its target with 28 days of the campaign left to go. It raised £850,480 in just 24 hours, with the funding earmarked to drive key growth pillars including English whisky production and domestic sales channels, leading to global sales opportunities.
Founder Alex Wolpert, said: “We have been humbled by the support that we have received, with investments ranging from £10 right up to £175,000. Our loyal fans have been integral to our success from day one and we are excited to now be able to take our business to the next level with their backing.”
The East London Liquor Company was set up in 2014. It is currently valued at £15 million and the funds raised will build annual bottle sales to 592,999 bottles in 2022, delivering sales revenue of £9.8 million, the company said.
The campaign will remain open to overfunding for a further 28 days.