Pinkster smashes crowdfunding target in six weeks
Pinkster, the premium gin brand, has “substantially surpassed” its £600,000 crowdfunding target in just six weeks.
With £758,000 committed, the company said the offer on Growthdeck’s crowdfunding platform is now overfunded by 126%.
A total of 56 investments has been pledged, with high net worth investments including sums of £175,000 and £150,000.
Pinkster, which is produced with fresh raspberries near Cambridge, was launched in 2013 by former chartered accountant Stephen Marsh. The distinctive pin gin is stocked in more than 500 outlets.
Marsh said: “To be honest, we are slightly blown away that we raised the finance in just six weeks. The overwhelming response from ginvestors is a major vote of confidence for the gin category and a real vindication of both our business model and our quirky product.
“Thanks to the current gin revival we are growing fast with turnover trebling over the last twelve months. This finance allows us to scale up the business by investing in staff, marketing and production facilities. If we reach our ceiling of £1 million, then all the better.”
Gary Robins, co-founder of Growthdeck, said: “We identified Pinkster as a company with huge potential for growth, not just because it is in a rapidly-expanding market, but because it is a well-run business that has already seen impressive growth in its turnover and distribution network.”