Equity crowdfunding is working for South African startups. In May, Intergreatme raised over R29 million through equity crowdfunding. South Africa’s Beerhouse is edging closer to meet its target through Uprise.Africa too. The startup is targeting R3-million to fund the opening of a third outlet, having raised over R1-million so far through equity crowdfunding platform Uprise.Africa.
Here Is All You Need To Know
- Beerhouse launched the fundraising campaign last month and with 26 days left in its funding campaign, the startup has raised R1,115,000 from 86 investors.
- The target raise of R3-million is in return for a 37.45% stake in the bar’s new outlet planned for Tygerberg, Cape Town.
Beerhouse is looking to raise R3m over Uprise.Africa from investors in return for 37.45% stake in its new Cape Town outlet
- To participate investors must invest a minimum of R1000. Investment is capped at R250 000 per investor.
- The startup said it will use the R3-million for the design, construction and furnishes as well as launch the Beerhouse Tygervalley branch.
- The project will involve transforming the current building, which previously housed the Starlight Diner since 2001, into the recognisable yellow Beerhouse design.
- If the Tygervalley Beerhouse campaign is successful, its investors will be able to trade shares following the recently announced partnership between Uprise.Africa and ZAR X — a fintech-based licensed stock exchange.
Read Also: How South Africa’s Intergreatme Raised Over $2 Million Through Equity Crowdfunding
About Beerhouse
Beerhouse has two branches at present — in Fourways, Johannesburg and Long Street, Cape Town. The company employs over 80 people in the existing branches and said it’s looking at creating about 30 more jobs in the new outlet.
The startup’s founder Randolf Jorberg said in a statement last week that the company is looking to replicate its current business model with the new Tygervalley premises.
“The Beerhouse management team are dedicated to creating a new space that is true to our brand where memories will be made for decades to come,” said Jorberg, who is originally from Germany.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.