Barry, an Australian ready-to-drink brand co-founded by four AFL stars, is launching a crowdfunding campaign to raise $5 million from investors. The company, known for its low-sugar and low-carb spirit-based seltzers, was established in 2023 by Bailey Smith, Nick Daicos, Josh Daicos, and Charlie Curnow.
Crowdfunding Success
The campaign, hosted on the investment platform OnMarket, has already exceeded $2.2 million and will close at 11:59 PM on Wednesday. Barry CEO Chris Pang described the response as "incredibly promising", noting that the "Barry community" is eager to take a stake in the company. "The groundswell of support has been phenomenal," Pang said. "It's clear that people recognize the potential of the business – hitting $3.68 million in revenue last financial year and achieving profitability, along with massive consumer demand for our product and brand."
Market Potential
According to Barry, the Australian ready-to-drink market is valued at $5 billion and is growing at 15% year-on-year, driven primarily by Generation Z. The company plans to use the investment funds to expand distribution and secure commercial partnerships.
Investment Details
Crowd-sourced funding allows everyday Australians to invest in early-stage startups. For Barry, the minimum investment is $250. Successful applicants will receive ordinary shares, making them legitimate shareholders. However, this type of investment is considered "high risk" because startups are less established and have a higher failure rate. If the business collapses, investors could lose their money.
OnMarket managing director Tim Eisenhauer labeled the response to Barry's campaign as "exceptional" and "record breaking." "Barry recorded the largest single-day number of sign-ups we've seen for an expression of interest campaign on the OnMarket platform to date," he said.
Community Focus
CEO Chris Pang emphasized that the decision to pursue crowd-sourced funding over traditional private equity was deliberate. "We have the growth profile that traditional private equity looks for, but we deliberately chose crowd-sourced funding," Pang said. "Our community has built Barry from day one, and it's important to us that they get to share its future."
Barry's campaign highlights the growing trend of celebrity-backed brands turning to crowdfunding to engage fans and raise capital, offering a unique opportunity for everyday investors to own a piece of a promising startup.
