Funding and supply chain platform for wine and spirits businesses, Ferovinum, has completed an oversubscribed £17.5 million Series A funding round.
Businesses in the drinks industry face a very specific set of challenges, including major liquidity constraints (with funds tied up in stock and payment terms), a complex and outdated supply chain, and a highly regulated global market that creates friction and barriers to selling internationally.
Ferovinum has created an end-to-end digital platform that helps businesses fund, produce, procure, and sell to global wine and spirits markets.
Founded by Mitchel Fowler (CEO) and Daniel Gibney (CFO), Ferovinum has been operating since 2018 and has funded over 35 million bottles for wine and spirits businesses to date.
The company has already seen tremendous growth in the UK market, with over £170 million of product transacted through the platform and growing annual sales by 1,000 per cent since early 2023.
To date, Ferovinum’s platform has deployed over £114 million of funding to support UK wine and spirits producers, enabling a huge flow from capital markets into the industry.
It provides working capital and supply chain automation until products are sold into a brand’s sales channels. This model leverages trading concepts used widely in commodity markets to provide an enhanced risk profile, greater flexibility, increased data collection to support underwriting decisions and low operating costs at scale.
Notion Capital led the round, with General Partner Jos White joining the Ferovinum board. Shapers VC, Semapa Next, and Ferovinum’s existing shareholder group also participated.
Jos White, General Partner at Notion Capital, says:
“Ferovinum’s platform leverages technology to give small and mid-sized players in the drinks industry access to funding, and an integrated set of supply chain services.
In this way they enable their customers to compete more effectively with the large corporates and, ultimately, to unlock growth. We couldn’t be more excited to invest in this industry disruptor.”
Mitchel Fowler, Ferovinum co-founder and CEO, says:
“The wine and spirits industry is worth $800 billion annually, and yet we’re running it archaic and inefficiently.
At Ferovinum, we’re passionate about building technology for the sector in a way that provides the rails for the most exciting next-generation of brands and resellers to succeed.
We’re so excited to have Notion Capital support us. They have a tremendous track record and team in B2B Software as a Service.
Jos White will be an invaluable board member – he’s the Yoda of SaaS!”
This new funding will enable the company to enter new markets and broaden its product set across funding and the supply chain. The service will also be launching in the US and Europe later this year.
Lead image: Ferovinum. Photo: uncredited.
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