BrewDog, the Scottish brewer and pub operator, has extended the limit set for its crowdfunding scheme, Equity for Punks, after an “epic response” to thefundraising so far.

The company, which originally set out to raise £4m in six months, is now looking to raise a further £250,000 from selling more shares to ‘fanvestors’ – the maximum value of equity allowed to be sold through a scheme like this. The current round of Equity for Punks has raised £3.7m so far.

It has so far raised almost £7m through ‘fanvestors’ buying shares in the business during three rounds of Equity for Punks.

This latest round of the scheme is still due to be completed in January, despite the brewer making another 2,600 shares available at £95 each.

The new target of £4.25m represents the highest amount companies can currently raise through crowdfunding schemes of this type, with BrewDog the only business in the world to come close to those limits.

The extra funds raised will further boost the expansion of BrewDog’s bar division both domestically and abroad, as well as fund a new series of bottle shops across the UK designed to cater for a growing demand for craft beer.

James Watt, co-founder at BrewDog, said: “It has been an epic response to Equity for Punks this year, and we now have over 12,000 shareholders all over the world. It’s this phenomenal response that has made it clear we are going to sell the full £4m allocation of shares well before our January deadline, so we are pushing the limit even further.

“Through Equity for Punks we have shown that far from a buzzword or a fad, crowdfunding is a legitimate alternative financial system. We have broken all records, and silenced all doubters, and now we want to ensure all the fans that have supported us have a chance to buy a share of BrewDog.”