Funding round for gin firm
Distiller raising £350,000 through crowd lending
Summerhall Distillery, producer of Pickering’s Gin, has launched a debt financing round which is expected to raise £350,000.
It will be used to expand facilities and meet demand for one of the Edinburgh-based distilleries patented products.
Distillery partners and co-founders, Matthew Gammell and Marcus Pickering, have launched the funding exercise via LendingCrowd, Scotland’s only crowd lender.
Pickering’s is also involved in Ginerosity, the world’s only social enterprise gin, which has announced its first round of funding to help disadvantaged young adults into skilled work and education using profits made from the sale of its gin.
Mr Pickering and Mr Gammell set up the enterprise last October with Chris Thewlis, director of Beer for Good CIC; Dave Mullen, executive creative director of agency Story UK; and David Moore, chief executive of Flavourly.com and director of the Craft Beer Clan of Scotland.
Ginerosity has also revealed the appointment of an advisory panel of business leaders and a ground-breaking partnership with developmental organisation Challenges Worldwide.
The panel will allocate funds raised by sales of its gin for overseas courses run by Challenges Worldwide through the International Citizen Service (ICS). The announcements come as the drinks company continues to gather momentum with sales across Scotland and the rest of the UK.