Santamanía seeks US$510k to drive international expansionBy Kristiane Sherry
Madrid’s ‘craft’ gin, vodka and rum distillery Santamanía is looking to raise £400,000 (US$510k) through crowdfunding site Crowdcube to secure production expansion and grow international sales.
Santamanía was founded in 2013 by a group of engineers, and to date the urban distillery has released 11 products.
The distillery is active in 19 export markets across Europe, Canada, South America and Asia Pacific, including Australia, which the brand entered last year.
The Santamanía team is now looking to add another still to double production capacity, hire brand ambassadors to drive international expansion and establish four commercial branches to drive international expansion.
Santamanía is offering a 5.41% equity stake in return for the £400,000.
With 27 days to go, the Crowdcube page shows 89 investors have raised a total of £189,860 (US$242k), 47% of the target.
Crowdcube gives Santamanía a pre-money evaluation of just under £7 million (US$8.9m) based on a 2016 turnover of £528,000 (US$672k) and €1.2m (US$1.5m) in assets.
Many spirits brands have utilised crowdfunding sites to raise capital in recent years – in 2016 SB rounded up some of the more unusual.