Last week, Philter Brewing ended its equity crowdfunding campaign, netting over $2m from more than 1200 investors.
The equity crowdfunding campaign began on 24 October, and Philter plans to use the funds to double its brewing capacity to 2.5 million litres. In addition, the brewery plans to increase its presence and distribution in the Australian market, with a focus on its home state of NSW, and continue to invest in its staff, particularly those in sales roles.
The campaign follows two successful brewery crowdfunding campaigns held last year, the $2.5m raise by Your Mates Brewery and the $2.2m raise by Black Hops Brewery.
The investors to Philter’s equity crowdfunding campaign were diverse, and the brewery even received support from its local football club, the Newtown Jets.
Club president Barry Cotter said Philter has been a long-term supporter of the Jets.
“Philter came on board in 2021 as official club beer sponsor and we have been thrilled with their support. From brewing our very own beer – the Henson Draught – to all the hands on deck at the grounds on game days – we feel the love. This investment is an indication of the belief we have in Philter, what they do and where they are headed. We’re proud to be involved,” said Cotter.
Philter Brewing co-founder and Managing Director Mick Neil was honoured to hear about the investment.
“Since our campaign launched a few weeks ago we have been blown away by the support of our community and this investment by the Jets is a beautiful example of that. Philter and the Jets are a match made in heaven – we’re stoked to be able to support them long-term and are humbled by their show of love today,” he said.
Neil explained that the money would help keep the craft brewery Australian-owned.
“We just want a level playing field to continue doing what we love. Since we launched in 2017, Philter has been growing 43 per cent year on year and has cracked $30m in sales revenue. We are bolstering our war chest so we can double our capacity and take the duopoly head on.
“That’s why we want our loyal supporters to become part owners in Philter– we are proudly Australian owned, and we want to stay that way.
“The Birchal equity crowdfunding raise means we can stay Aussie owned rather than selling off to a foreign owned beer giant in order to grow, which would sadly affect the taste of our beer. And taste is what our customers value most,” Neil said.