Emerging Markets Law

Boston Brewpub Hopsters Raises Fastest Reg CF Crowdfunding Ever

Posted In Crowdfunding

A brew pub—Hopsters Brewery—has raised more than $600,000 in what industry insiders are calling the "fastest crowdfund offering ever."  

The Boston-area brew pub and eatery used the WeFunders platform to raise funds in roughly two weeks.

Co-founder Lee Cooper said:

“We give patrons a place they can enjoy on any occasion—brew-your-own for birthdays, or a drink and dinner on the weekends. There’s always a reason to come back to Hopsters. Since 2013, we’ve become a local favorite [in Newton, MA] where we’ve helped over 21,000 patrons brew their own batch of beer. Now, we’re opening a Hopsters in Boston’s Seaport District. After that, we plan to open 16 locations across the U.S. by 2022.”

WeFunders CEO Nick Tommarello crowed, “Hopsters is the fastest raise in Reg CF history, by far" adding that he hoped the issuer would reach its goal of $1 million in less than a month.

As a brew pub in the Boston area, heavy with tech-savvy millennials, Hopsters was an ideal candidate to utilize Reg CF as a means of raising start-up funds. The issuer had a pre-money valuation of $4 million, so a completed raise of $1 million would account for roughly 20 percent of the issuer's total equity. 

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