Beerhouse, famous for its “99 bottles of beer on the wall” is now raising capital, through crowdfunding platform Uprise.Africa, to renovate a new branch in Tygervalley, Cape Town.
“We have a target of ZAR3 million and so far we have raised over ZAR1 million from 86 investors. We did this through an authorised financial services provider, Uprise.Africa who run the pioneering equity crowdfunding platform that made all this possible,” said Randolf Jorberg, Beerhouse Founder.
Beerhouse already boasts two successful branches in Fourways, Johannesburg and Long Street, Cape Town. The company employs over 80 people in the existing branches and are looking at creating about 30 more jobs with the upcoming planned expansion.
“We are looking to replicate our current business model with the new Tygervalley premises. The Beerhouse management team are dedicated to creating a new space that is true to our brand where memories will be made for decades to come,” said Jorberg.
If the Tygervalley Beerhouse campaign is successful, its investors will be able to trade shares following the recently announced partnership between Uprise.Africa and ZAR X – a fintech-based licensed stock exchange. The objective is to list start-ups and small companies that have successfully raised capital through the Uprise.Africa platform for trading on the bourse.
The investor capital of R3 million will be utilised for the design, construction and furnishes as well as launch the Beerhouse Tygervalley branch. The project will be transforming the current building, which previously housed the legendary Starlight Diner since 2001, into the recognisable yellow Beerhousedesign that has become synonymous with a good time, good food and a great selection of beers.
“Through equity crowdfunding, we aim to enable a wide community of Beerhouse customers to not only enjoy our beers but also invest in a brand they love while earning a solid return at the same time,” explained Jorberg,
Investment starts at a minimum of ZAR1000 and is capped at ZAR250 000 per investor. The campaign to raise equity capital was launched in July 2019 and will run until the end of September 2019.