A HAMPSHIRE distillery that makes premium spirits has celebrated its five year anniversary – and smashed its crowdfunding target.
Paul Bowler started Winchester Distillery in his kitchen in 2014.
Earlier this year the business launched a crowdfunding campaign to help fund expansion plans – and it has already reached over £240,000 from 94 investors, exceeding its first 30 day target by over 200 per cent.
To date the £375,000 for 8.1 per cent equity campaign has been in ‘private mode’ on Crowdcube - open only to followers of Winchester Distillery - and the target was to reach 20 per cent of the overall amount.
More than 65 per cent funding has been achieved, with a month yet to go, during which time the Winchester Distillery pitch will go public on the Crowdcube website.
In April it was announced that external investment was being sought for the first time to increase production of its premium spirits, install a brewhouse, further develop its whisky and rum, increase marketing, pursue export opportunities and open an onsite gift shop.
Paul said: ‘The news that our supporters have pledged almost quarter of a million pounds, plus the overwhelming amount of support we’ve received over the last month, has been the best fifth birthday present. We’re really excited that we’re another step closer to being able to proceed with our expansion plans.’