Scottish craft brewer Innis & Gunn has raised £2m of a target £3m through its BeerBond, with one in 10 investors choosing to take their return in the form of beer.

The company launched the four-year, initial fixed-term mini-bond at the end of April with BeerBucks – which can be redeemed against beer bought from its online shop – available for investments from £500.

The company said last Tuesday (26th May) saw the most money received since launch.

Dougal Gunn Sharp, founder and chief executive of Innis & Gunn, said: “People have responded incredibly to the launch of the Bond. We knew that our fans and the craft beer community were enthusiastic to get involved, but we have been bowled over by the support it has received.

“The Bond has also resonated with those outside of the craft beer community. With interest rates on some savings accounts continuing to languish at as little as 0.1%, the 7.25% rate on the BeerBondTM has certainly raised some eyebrows. We just hope that those who are considering an investment don’t leave it too late and miss out on the opportunity.”

Memery Crystal LLP, the law firm advising UK companies, including Innis & Gunn, on mini-bonds, has seen its clients raise £40m through such launches in the last 12 months, with more than four in 10 (43%) including either a non-cash or ‘reward’ element in their offer.

David Walker, corporate partner at Memery Crystal, said: “This form of fundraising increasingly allows companies to strengthen core relationships with consumers or fans, the level of take-up further demonstrating the versatility and appeal of such offers both to issuers and investors.”