Old Young’s Distillery breaks records with $2.7 million crowdfunding raise
Old Young’s Distillery, located in Western Australia’s Swan Valley region, has made history by achieving the largest equity crowdfunding raise in Australia for the financial year, hitting their maximum raise target of $2.7 million on Birchal in just 23 hours.
Glide Agency’s tailored digital strategy generated over 3,200 expressions of interest (EOIs) before the offer was launched. This helped Old Young’s Distillery close out their maximum target 24 hours before launching to the wider public, making it the fastest-ever $2 million raise in Western Australia, and the largest alcohol raise in Australia.
The Icon of Gin awards in London brought significant attention to Old Young’s Distillery during the ‘expressions of interest’ phase of the raise, generating interest among potential investors. The Distillery also achieved a revenue of $5.3 million in 2022.
James Young, the founder and CEO, expressed his gratitude for the overwhelming support received during the raise.
“I’ve been speaking to investors throughout this process and so many of them have followed us right back to when we launched in 2016!
“To raise this amount of money in such a short time in tricky economic times is a testament to the creativity and passion we bring to work every day. I’m so excited for our plans and to have 855 new investors to share that ride with!”
The funds raised will be used to supercharge The Juniper Society’s database of paying members of up to 10,000 gin lovers per month. Additionally, Young plans to build a monumental building in the Swan Valley that he describes as a ‘Cathedral of Gin.’ He is working with some of Australia’s and the world’s top architectural firms, whose designs will compete to win the project.
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Digital Advertising: Mike Atkinson and Will Marsh of Glide Agency
Public Relations: Drew Lambert of DL Comms
Equity Crowdfunding Platform: Birchal
Content Production: Hypnosis Creative Agency
