Thrive raises €250,000 on the first day of its crowdfunding: “We didn’t expect it”

The "sports beer" has been brewing since Thursday on the crowdfunding platform Crowdcube. At the time of writing, 66% of the initial target amount has already been raised.

Photo: Thrive

"In just one day and one email sent to our customers, we're already at €205,000," said Laurens D'Hoore, founder of Thrive, the Belgian protein-rich non-alcoholic beer brand. "We knew there was interest within our community, but we didn't expect this at all."

As Gondola Foodservice pointed out three weeks earlier, Thrive was checking in with its peers about a possible crowdfunding campaign.

As a result, the company's appearance since last Thursday on the British platform Crowdcube has already resulted in more than €330,000 raised out of a target of €500,000. This amount is part of a larger funding round of €1 million, thanks to the participation of existing investors.

"We've reached breakeven and everything is falling into place. Now it's time to step on the accelerator and offer our healthy beers to more customers and countries," enthuses Laurens D'Hoore.

Thanks to this financing operation, the Thrive brand offers a brief snapshot of its strong financial position. Valued at €8 million pre-money (before new capital injections), the brewing company has more than 14,000 direct-to-consumer (D2C) customers, with a presence in more than 800 off-premises points in Belgium.

Over the past two months, revenue has reached over €1.4 million. "More than 1,000 of our 14,000 D2C customers have ordered more than four times," she adds, highlighting the success of the company. She also notes the endorsement it has received from top athletes, such as gold medal-winning triathlete Jan Frodeno.

"Traditional non-alcoholic beers often fail to meet the needs of active, health-conscious consumers. As the functional beverage market grows, beer is being left behind, despite its potential as a healthy, natural, and alcohol-free beverage," Thrive continues.

Last details for the road on a lighter note, if the Belgian brand allows individual investors to own "a piece of the company that produces the healthiest of beers", crowdfunding offers rewards based on involvement.

From a free 12-pack of beers of your choice (between Peak for sports recovery, Play for everyday life and Unwind IPA for relaxation) with early access to new products from €500 invested, to the 48-pack, with early access but also 20% off for a year, a Thrive branded cycling jersey and an event dedicated to investors, from €10,000 invested.