'Sports beer' Thrive gauges customer interest in crowdfunding

The Belgian alcohol-free protein beer is actively looking for ways to boost its international growth. One of the options is a crowdfunding campaign. But before taking the plunge, management is asking the community if they feel like “owning a piece of Thrive” …

Thrive

“Let’s keep building something great — together” In an email sent via an ‘Invest’ address to Thrive customers and other followers of the young brand, Laurens D’Hoore underscores the invitation to join the entrepreneurial adventure. For once, the founder of the first protein-enriched alcohol-free.

“We are currently exploring the idea of launching a crowdfunding campaign, where we want to offer you - our community - the opportunity to invest in Thrive. Not to drink your favorite non-alcoholic beers, but to become a part owner of the company behind it,” says the former lawyer and avid cyclist who developed the concept together with De Proefbrouwerij and the brewing technology department of KU Leuven.

Since its launch in 2021, the Thrive brand has been widely available in Belgium, in Carrefour, Colruyt and Delhaize supermarkets, and recently in 200 Albert Heijns in the Netherlands and at Decathlon in 7 countries, including France, Spain, Switzerland. And let's not forget the nearly 400 points of sale, not only in the hospitality industry but also in sports clubs and climbing gyms.

A clear momentum, because the company has recently broken even. In order to keep up the pace, the brewing team is of course looking for funds to get its 'beers that make you better' abroad faster.

No better 'ambassador-shareholders' than their own customers, they thought. While “investing in a private company like Thrive is normally reserved for professional investors”, Laurens D'Hoore “wants to do it differently”.

So, in short, a survey is already being conducted among customers to 'gauge interest'. With a short online survey in three steps, they want to find out whether the potential campaign is worthwhile and, if so, how many people are prepared to contribute, in steps of 100 to 1,000 euros and with amounts up to 5,000 euros and more.

Of course, this is not yet an investment offer and the answers are not binding either. But the feedback will help the management to make a decision. A new round of capital at Thrive to finance the expansion has now been set. It remains to be seen under which modalities. “Awareness is currently the biggest challenge,” the founder told De Standaard last week. However, he added that the direct competition is still in its infancy and has barely reached the taste test phase.

With a price per can of 2.5 euros, the sports beer brand is at the top of the market. The large brewery groups are also withdrawing somewhat from this segment because the margins are too small. Social developments could also work to the advantage of the Belgian player. For example, Norway already has a law that prohibits advertising for 0% alternatives if they come from companies that also produce alcoholic beverages.