ELLC reaches £750,000 crowdfunding goal 5th May, 2021 by Kate Malczewski
East London Liquor Company (ELLC) has surpassed its £750,000 (US$1 million) crowdfunding target on Crowdcube.
ELLC founder Alex Wolpert (far right) and his team have met their fundraising target
The London-based producer’s crowdfunding campaign has attracted 516 investors since it launched on 12 April, and it will remain open to investors until 12 May.
Alex Wolpert, founder of ELLC, said: “After such a challenging year, the response to our campaign has been seriously overwhelming and we are humbled by the support of the investor community.
“With such enthusiastic support, we are continuing our campaign to give as many people as possible the opportunity to be part of our incredible journey.”
By Edward Devlin2021-04-15T09:41:00+01:00
Alex Wolpert founded East London Liquor Co in 2014
East London Liquor Company has turned to the crowd once again to raise £750,000 to ramp up growth as the hospitality industry begins to open following relaxation of lockdown.
The London-based distiller, which already has supermarket listings with Waitrose, Tesco and Co-op, aims to expand off-channel exposure for its range of spirits, ready-to-drink canned cocktails and hard seltzers.
Its latest crowdfunding round on Crowdcube – currently (at the time of writing) standing at £656k – is set to value the company at £26m.
East London plans to use the money to grow distribution in supermarkets in the UK and overseas, as well as to expand its DTC output, invest in the onsite bar, restaurant, bottle shop and distillery tours, and increase whisky production.
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