St Andrews Brewing Company will launch a crowdfunding campaign to pay for its new pub in Dundee and brewery expansion plans.
Investments starting at £20 will be offered through the Crowdcube platform on the basis of a £7.5 million valuation for the six-year-old company.
The brewer will target raising £500,000 through crowdfunding, which will go towards its plans to spend £1.2m in the coming months.
The majority of the investment will be on the large bar to be situated in the basement of the Caird Hall. Money will also be spent expanding the capacity of its brewery at Bassaguard Business Park.
Company director Tim Butler said: “Crowdfunding is a path well travelled and very successful for our type of business.
“It’s a good way of creating ambassadors for your brand and would be a cheaper way of funding our plans than borrowing from a bank.
“For a minimum buy-in of £20, people can become a shareholder and part of a group of people who love good beers that come out of St Andrews.
“If we do not succeed at crowdfunding, we still have asset financing and normal bank loans to fall back on.”
The company will shortly be putting its plans for the Caird Hall bar out to tender.
It is anticipated the 10 weeks of work will start in August with the bar due to open in November. It will be the firm’s fourth bar, joining others in St Andrews and Edinburgh.
The new brewing equipment, which will quadruple the company’s capacity, will be installed in October.