It's Crate's Round

The canal side brewery in Hackney Wick is raising £500k at a £12million valuation

- updated at March 23, 2019, 4:03 p.m.

Crate secures it's future with funding round

Posted by Relte on March 19, 2019 |

Background;

Seven year old Crate Brewery is raising half a million pounds to fund expansion plans on it's current site in Hackney Wick, East London. They have just secured a 20 year lease on their premises and their plans include;

  • A new restaurant
  • A new event space
  • Double the size of current tap room
  • Build 1000 sq ft of affordable workspace

Recent achèvements;

  • national listing in nearly 1500 Tesco stores
  • £3.95m turnover in FY 2018
  • EBITDA of £88k.

The £12m valuation may be a tad rich for some, however for ten quid, you can get a pint and pizza in return!

More details here.

Full disclosure;

In the summer of 2014, I had the pleasure of meeting the three founders when working for Crate. Oh and I am 'in' on this round.

Best of luck to Crate and their new investors!