Brewdog EFP V slows to trickle as company slashes target

Brewdog's fifth Punk Campaign to raise £50m has been a turbulent ride. Now as the funding dries up, the Dog is not looking so confident.

When Brewdog launched EFP 5 they had a stated target of £50m, with an initial aim of £10m in 100 days. 

When the time for the completion of the £10m was drawing near - the company were still at around £8m mark - things looked a little sad. However through some sort of magic within 9 days they had convinced people to produce the required £2m to get them over the line. This was some achievement, as the average investment per day at this time was around £50k-£60k.

Since this large injection, which just happened to be around the date the £10m target was set to be completed - 15 January 2018, the company has received only £3m in 50 days. Doing some maths this takes the investment back to around the average of £50k to £60k per day. You might be forgiven for questioning the coincidence.

Realising that this daily input was not going to get even close to their £50m target, Brewdog have now reduced this 'target' to £15m - with no explanation. Its their crowdfunding so they can do pretty well whatever they like. But you have question the honesty behind it all.

Brewdog is a very successful company run by almost brilliant entrepreneurs. This sort of mucking about and deception isn't necessary. It reflects very poorly on the egos of the two founders who it appears just cannot stand being wrong, even when they are. It also makes the whole EFP project a bit of joke. Like their US EFP project turned out to be.

Lets hope it's not.  

Despite what we said, Brewdog slams through its £10m in under 100 days

In what looks like a surprising result, Brewdog will now easily get to its minimum target of £10m raised in the final 4 days of the BFP5 campaign.

We say surprising as for the best part of 70 days of this 100 day campaign, it looked less and less likely that the Dogs would get over £8m, let alone £10m. 

Back in October 17, there was a good steady stream of investment up around the £100k per day level. Then around the middle of November it started to slowdown and by December it was nearer to £50k than £100k per day or around half the required rate. So from 20 December, the amount still to be invested was £2.9m - around £110k per day. But the daily input was stubbornly stuck at around £50k. 

By the 5 January Brewdog still required £1.8m in just just 11 days, with the trend heading the other way. But those boys just dont ever give up and since, they have raised all but £400k of that amount, with the last two days seeing £750k coming in.

This is certainly not a pattern we have seen before in any ECF campaign in 6 years. Yesterday for example saw 536 investors when the average per day has been just over 200. This campaign is run by Brewdog, not an independent platform. So how they have turned this around we will never know but it is some achievement.

Hats Off.