The Five Points Brewing Co has hit its £750,000 crowdfunding target — in fact it is overfunded by 10% — in return for 5.66 equity stake in the company.

The capital will be used to open the first Five Points Taproom at the iconic Pembury Tavern, as well as investing in state-of-the-art new brewhouse equipment and fermentation tanks, which will triple production capacity volume, and which it is hoped will allow the business to increase sales from 2 million to 6 million pints a year (34,000 hectolitres).

A new research and development brew kit at The Pembury Tavern will be used to develop new recipes and research innovative brewing processes.

The fundraising will also mean investing in the growing team, as well as expanding UK distribution and developing the export business.

The Five Points was the first brewer in the UK to be an accredited living wage employer, sources electricity from 100% renewable sources, and helped to set up an apprenticeship scheme at Hackney Community College.

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