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Santamanía raises more than £1m in crowdfunding drive

Madrid-based ‘urban distillery’ Santamanía has smashed its equity crowdfunding target, raising £1.14 million (US$1.49m) – almost 300% of its £400,000 goal.

Santamanía has raised almost three times its £400k goal

The ‘craft’ gin, vodka and rum distillery launched the fundraising endeavour through crowdfunding site Crowdcube in a bid to scale up production and grow its international presence.

With 827 investors hailing from 38 different nationalities, the round closed at the total amount of £1,135,870 – in exchange for the 14% of the company equity.

During the financing process, Santamanía began work on its distillery site, slated to open to the public in September.

Santamanía was founded in 2013 by a group of engineers, and has released 11 products to date.

The producter is active in 19 export markets across Europe, Canada, South America and Asia Pacific, including Australia, which the brand entered last year.

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