Humble Grape aims for £750k-£1m in second expansion crowdfund

By Hannah Thompson contact

- Last updated on GMT

Humble Grape crowdfunding aims to raise 750k 1 million for expansion

Related tags: Finance, Investment

Wine bar and merchant group Humble Grape has launched its second crowdfunding campaign, hoping to raise £750,000-£1m to support its ongoing expansion plans.

The fund, on the online investor website Seedrs, will look to support the group’s growth beyond the already-confirmed opening of its third and fourth sites this year. It will then look to open two to four sites per year across London, from 2018 onwards.

The investment fund’s pre-valuation is set at £10m based on the company’s revenue since 2009.  

Group founder James Dawson has invited regulars and loyal customers to invest, as an opportunity to become part of the brand’s growth and success.

The investor pre-registration phase has already begun for potential investors, with the public investment phase set to open on 19 March.

The lowest investment amount available is £20.    

It is the second time has Dawson has launched a Seedrs campaign for the business, after a 2014 bid far exceeded the company’s initial aims, raising £360,000. The average investment amount per investor was £1,000.

The group then received an additional £175,000 from private investors, for a total fundraise of £535,000, with the pre-valuation of £1.4m.

This fund helped to secure the third and fourth sites for later this year, in north and central London respectively.

Humble Grape’s first wine bar opened in south London’s Battersea in 2015, followed by Fleet Street in 2016, and before that its business centred on importing sustainable wines from small, family-owned vineyards.

It now imports over 400 wines from 11 different countries.

“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.”

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