Aberdeenshire-based craft brewing firm BrewDog said on Tuesday that Equity for Punks V, its fifth crowdfunding effort, has closed raising £26.2 million “smashing the world record for the most successful equity crowdfunding raise.”

BrewDog said: “Kicking off in October 2017, we hit our initial target of £10 million in under 90 days.

“Following this unprecedented demand, we extended our latest round to enable more people to join our community and fuel our mission of making other people as passionate about great craft beer as we are.

“Thanks to the 50,000 people who helped us raise over £26.2 million in our latest round of Equity for Punks.”

BrewDog said Equity for Punks has now raised £67 million from more than 94,000 people.

Last week, BrewDog co-founder James Watt told the UK’s Press Association that plans for an initial public offering (IPO) by the firm are still on track for 2020.

Watt said BrewDog — valued at roughly £1 billion last year after selling a 22% stake to private equity — is considering an IPO in either the UK or the United States, with London the firm’s preference.

Watt said an IPO will offer its crowdfunding retail investors the opportunity to cash in their investments.