Lucky Saint raises over £10m in ‘record-breaking’ Series A round | News

Lucky Saint raises over £10m in ‘record-breaking’ Series A round | News

Alcohol-free beer model Fortunate Saint has secured what it claims is a “record-breaking” £10m funding.

The Collection A funding spherical – claimed to be the “largest ever” raised by an alcohol-free beer model – was led by client and know-how development investor Beringea and enterprise capital firm JamJar Investments.

JamJar is headed up by Harmless co-founders Richard Reed, John Wright and Adam Balon, and former Harmless business class supervisor Katie Leviten.

Different buyers within the spherical included: Warburtons chairman Jonathan Warburton; Adam & Eve DDB co-founders James Murphy and David Golding; Karmarama founder Ben Bilboul; Meta VP for Northern Europe Steve Hatch; Wahaca CEO and co-founder Mark Selby; and ex-England rugby union participant Will Greenwood.

Fortunate Saint stated it might use the funds to “consolidate its place because the UK’s largest unbiased alcohol-free beer”, speed up the distribution of its draught providing, and kick-start an enlargement into Europe.

It additionally plans to broaden its workforce and open a devoted Fortunate Saint pub at its headquarters in central London later this month.

The success of the spherical mirrored “a rising shift in UK ingesting tradition”, it stated.

It comes because the enterprise forecasted “the largest Dry January thus far” subsequent month, and a 25% improve in participation to over 10 million individuals.

In keeping with Fortunate Saint CEO and founder Luke Boase, this was “a giant second” for the enterprise.

“This newest funding will guarantee additional success for the corporate within the UK and assist us construct a globally recognised alcohol-free model.

“Everyone knows JamJar’s monitor document in supporting and driving nice client manufacturers, and with Harmless as their story, we all know we’ve bought an distinctive workforce behind us.”

JamJar’s Balon stated he had “liked being a part of Fortunate Saint’s development story since working with them in 2021”.

“Their journey is a part of a large cultural shift with shoppers as our relationship with alcohol is present process massive and irreversible change.

“Fortunate Saint has responded to this second with one of the best product and strongest model within the class, and we’re delighted to again them once more.”

It comes after the model turned the primary official beer of Dry January in 2022, launching a co-branded mass sampling marketing campaign with Alcohol Change UK over the month, handing out over 100,000 bottles in varied areas throughout the UK, and inspiring consumers to obtain the Attempt Dry app.

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