Kildare brewery secures crowd funding to grow business
22 February 2016 | 0
Peer-to-peer (P2P) lending company, Linked Finance, has raised €15,000 in funding to finance the expansion of Kelly’s Mountain Brew, an award-winning independent brewery based in Clane, Co. Kildare.
The funds were raised through Linked Finance’s online lending platform (www.linkedfinance.com) and will be used for the launch of a new regional lager in time for St Patrick’s Day. The beer, which is yet to be revealed, will initially target 20 pubs in the main towns across Kildare, including Naas, Newbridge, Celbridge, Maynooth, Leixlip and Clane.
Founded by husband and wife duo Ronan and Jacqui Kelly in 2014, Kelly’s Mountain Brew produces authentic Irish craft beers using only the finest natural ingredients and no artificial additives or preservatives. The micro-brewery currently produces four beers based on its own unique recipes which were developed by in-house brewer Joe Bergin, who brings with him over 30 years’ experience working as a master brewer.
Kelly’s Mountain Brew beers are now stocked on the shelves of 30 Supervalu stores throughout Dublin and Kildare as well as other well-known off-licences such as Molloys, Carry Out and a wide range of independent outlets. The company has achieved steady growth since it launched and is on track to record €250,000 in sales this year on foot of significant expansion across its key business areas including regional sales, contract brewing and export markets including Russia, Luxembourg and Germany.
To date, Linked Finance lenders have supported 21 businesses throughout Kildare, raising funding to the tune of over €508,000 for local companies. Commenting on the funding raised for Kelly’s Mountain Brew, Peter O’Mahony, CEO of Linked Finance said there is very strong appetite among lenders on its platform to provide finance to SMEs that are growing and in need of working capital. In fact, the company says its lenders currently have over €10m in funds readily available to lend to Irish businesses.
“While banks are the traditional source of funds, businesses need a quicker turnaround and easier process than what the banks usually offer,” O’Mahony said. “Linked Finance bridges that gap and brings the added advantage of creating a community of active investors in Ireland’s recovery.”