Alcohol-free beer Thrive has raised more than €800,000 from hundreds of fans

A successful crowdfunding campaign for the Ghent-based producer of the first patent-pending protein alcohol-free beer. The public's enthusiasm for developing this new category of functional beverages far exceeded Thrive's expectations and provided valuable financial support, complementing a private fundraising effort.

© Thrive

"Round closed," the crowdfunding platform Crowdcube now displays. And what a turn! The team behind the rising non-alcoholic beer brand could have negotiated an investment through secret meetings with venture capitalists. "But Thrive was built on a community, and this was an opportunity to allow that community to share the value we're creating," says Laurens D'Hoore, the founder of this new-style brewing startup.

569 investors participated in the crowdfunding campaign launched two weeks earlier, representing a variety of financial profiles. Some invested €100, while others readily contributed €12,500. The average investment was €1,447.

The enthusiasm was such that the amount raised far exceeded the company's target, raising €823,908 at closing on Monday, surpassing the initial target by 65%. "Hundreds of our fans have become even more passionate investors and ambassadors," says the Thrive CEO.

It's worth noting that this funding round complements a €500,000 round raised from existing and new private investors. This will further expand Thrive's alcohol-free range, which currently includes the popular Peak sports recovery beer, Play for "healthy everyday drinking," and the most recent Unwind IPA "for relaxation."

Already backed by its increasing direct and recurring orders, its on-trade sales via bars in climbing gyms and other sports clubs, and its off-trade deployment via stores and supermarkets, the small brewer intends to boost its brand awareness and, through this, its international expansion.