St Andrews Brewing Co. has exceeded a crowdfunding target by 61 per cent, gearing it up for a future expansion push with an extra boost.
The Fife firm raised a total of £646,100, releasing 7.93% equity to 754 investors this week after a two-month appeal.
The initial target was smashed five days after being launched.
The plan is to increase beer production to meet increased export demand, and supply its growing estate of bars, according to the firm's partners Tim Butler and Phil Mackey.
Maintaining a model that reflects Scottish hospitality, so that "when you walk into a place it feels good", is the firm's priority, says managing director Mr Mackey.
If that recipe is a winning one, the firm believes it can can be repeated on a large scale.
Small exports have been made with orders to places such as Singapore and Germany, but the company has to date not had the production capacity to offer more to the broader overseas market.
That is set to change from next year when they seek to take the expansion plans forward after the challenge of a new bar of a different size.
The latest investment will fund new brewery equipment capable of quintupling their production to one million pints in 2019.
The company’s crowdfunding page declared it seeks to build its brand "worldwide as a creator of brilliant beers and the perfect places to enjoy them".
They will also begin brewing lagers for the first time.
Mr Mackey said that by the end of the year the firm will have 100-plus staff, with 70 just now.
Above: Tim Butler and Phil Mackey on beach at St Andrews
In addition to supplying clients, the business currently operates four bars, at North Street and South Street in St Andrews, and Potterrow and Broughton Street Lane in Edinburgh.
The fifth bar is scheduled to open at Dundee’s historic Caird Hall in November and be a flagship.
At 8,000 square feet, it will be one of Scotland’s largest craft beer bars.
It is expected that the Dundee venue will have an atrium seating area at the entrance and a cocktail bar and snug area as part of the 175-cover premises under the £1m move.
St Andrews Brewing Co. bars consume 25% of the business’s beer production, with the remaining 75% distributed to bars, venues and shops across Scotland.
Distribution will begin south of the border in 2019.
The firms describes its ethos as "centred around eating and drinking together, making each pub a welcoming place".
Owner Mr Butler said: "We have very ambitious growth plans, and the money raised will help to propel the company onto a UK-wide stage, and globally from next year onwards.
"The additional funds mean our growth plans will be more cost effective for the company as we will need to borrow less to fulfil our plans, making the business more profitable for investors.
"We’re over the moon with the number of people investing and the amount they have entrusted to us."
The company has been reported to be valued at £7.5 million.
- Read more: Beer of the Week: St Andrews Brewing Company
Founded in 2012, the firm has won several coveted awards, including Scotland’s Best Beer Bar at the 2017 Scottish Beer Awards.
St Andrews restaurateur Mr Butler discovered the fledgling brewery operating from a garage which he backed before later buying out the brewer who moved south.
The firm's brewery team produces a core range of five session beers alongside a wide range of artisan beers.
A bottled range is stocked in main supermarkets, while draft and bottles can be found in different premises all over Scotland.
The St Andrews Brewing Co. lager is to make its debut in 2019.
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