A crowdfunding platform created specifically for wine allowed biodynamic Champagne Producer Francis Boulard to evolve his business.
Crowdfunding wine projects not only provides finance, it allows vintners and entrepreneurs to connect with consumers around the globe.
(This story was originally published in Wine-Searcher on Friday, Oct 10th 2014 http://www.wine-searcher.com/m/2014/10/wine-gets-its-own-crowdfunding-platform)
The synergy between wine and crowdfunding led four entrepreneurs in France to start Fundovino, the first platform dedicated entirely to wine. Launched in August, it now has one project nearing successful completion.
The Paris-based company believes that France‘s position as one of the world’s premiere wine producers helps Fundovino to provide a strategic link between consumers and producers. “Wine is France’s second largest export, and we have 558,000 people working in wine and 142,000 producers,” said co-founder Julien Worth.
Worth observes that on generalist crowdfunding platforms, “wine projects can get lost amid the hundreds of different kinds of projects.”
Some of the attractions – or rewards – for those pledging money towards a project include a bottle from a barrel of Burgundy from the exclusive Hospices of Beaune auction in return for a €50 ($64) pledge, or a €150 ($191) pledge guarantees three bottles of a hard-to-find Champagne.
From a small, biodynamic winery north of Reims, Francis Boulard, a sixth-generation Champagne grower, quickly reached 89 percent of his €15,200 ($19,353) funding goal needed to buy a large oak cask.
The 25-hectoliter cask will allow him to increase the capacity for making his Patraea cuvée, which relies on a base wine stored in casks.
“I didn’t think it would happen this fast,” admitted Francis Boulard. With 30 odd days to go, it’s a good bet Boulard will succeed.
Crowdfunding was an attractive option for the grower with 7.5 acres of vines and an active presence on the Internet. “I’m a geek. I’ve had a website since 1997 and a blog since 2005,” said Boulard, who used social media to announce his project.
Boulard has built up a following of admirers who appreciate the painstaking care given to his small production Champagnes. One of the most popular rewards for his cask project includes a bottle of Patraea.
“It’s a rare, hard-to-find cuvée that we’re offering in exchange,” said Boulard.
Originally crowdfunding was rewards-based – people give money and in return receive products or experiences. Recently, equity crowdfunding became possible too. Both approaches allow entrepreneurs to fulfil their dream, while creating a new kind of bond with wine drinkers.
© Champagne Francis Boulard | Social media aficionado and Champagne producer Francis Boulard with his daughter Delphine