New Zealand Whisky Collection increases crowdfunding target

The New Zealand Whisky Collection has extended its crowdfunding target to NZ$2 million (US$1.4m) after achieving its initial goal in less than a month.

The New Zealand Whisky Collection has increased its crowdfunding target to NZ$2 million

The company launched its campaign on 26 October and hoped to raise NZ$500,000 (US$343,000) to fund the construction of a new distillery, increase production and expand its sales.

The campaign has so far raised NZ$568,555 (US$390,000) from 222 backers, who have each donated at least NZ$500 (US$342).

In a post on its Facebook page, the New Zealand Whisky Collection said: “Thank you all so much. We have reached (and exceeded) our minimum Crowdfunding goal of NZ$500,000! This means the campaign is officially a success!

“We have, however, received countless international enquiries wishing to pledge. So, to give our overseas friends a chance to be part of this awesome industry we have decided to extend the campaign to December 17 2018.”

The New Zealand Whisky Collection, which currently sources liquid from the Dunedin Distillery, hopes to use the funds to develop in markets including Australia, Europe, Singapore and China. The majority of the funds raised will be used to increase spirit production in order to keep up with increasing demand.