Humble Grape, an independent wine merchant and wine bar concept, is preparing to launch their second crowdfunding campaign later this month. According to the company, following the success of their first two sites Humble Grape Battersea (2015) and Humble Grape Fleet Street (2016), the emerging brand have two further sites opening this year, both of which are already secured and fully funded. Back in 2014, Humble Grape raised over £500,000 on Seedrs. The company says it has grown quickly since that time and now employs more than 35 staff and imports over 400 wines from 11 different countries.
Back in 2014, Humble Grape raised over £500,000 on Seedrs. The company says it has grown quickly since that time and now employs more than 35 staff and imports over 400 wines from 11 different countries.
Founder James Dawson has decided to raise funds once again via crowdfunding platform Seedrs. During the first crowdfunding round, the company had a pre-money valuation of £1.4 million. Today they claim early investors have seen their investment increase eight-fold. The new campaign seeks to raise between £750,000 -t0 £1 million, with the pre-money valuation set at £10 million.
Humble Grape reports that preview investor events are selling out within hours and predicts this next funding round will raise funds in record time.
“This is about offering our customers the opportunity to become further invested in Humble Grape,” says Dawson. “We’ve let customer feedback and input shape our brand so far and no matter how big we grow, I want this to continue. I believe in crowdfunding because it gives customers who believe in a brand the opportunity to become a part of its growth and share in its success. Were all about bringing our customers closer to the source, connecting them with the winemakers and giving them access to wines that would otherwise be unavailable. I want Humble Grape to belong to the people who believe in what we are doing.”
Humble Grape expects to expand across London with each location maintaining a unique identity, taking into consideration the local community and personalised USPs.
The money raised will go towards opening sites five and six and towards growing the Wine Club, Wine Bank and online sales. Investors will also gain additional privileges and discounts as well as being the first access to new imports and opportunities to visit different vineyards.
Pre-registration has already commenced with interested investors contacting Dawson. The private launch commences on March 15th with the public launch beginning on March 19th.
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