Ferovinum, a London-based funding platform for the wine and spirits industry, has secured a GBP 80m bilateral loan from NatWest as part of a wider GBP 100m funding package, a spokesperson for the company told this news service.
BCI Capital, a UK-headquartered alternative asset manager, and Ferovinum’s shareholders are collectively contributing an additional GBP 20m to the organisation, according to the spokesperson.
The transaction structure also facilitates the addition of other lenders to accommodate deployment beyond the initial GBP 100m via syndication, the spokesperson added.
“This will unlock larger-scale capital provision to wine and spirit businesses, as well as improving access to capital in a sector that has historically been hindered by its niche classification, fragmentation, and long maturation times,” the spokesperson said.
The funding will support the ongoing evolution of Ferovinum's platform and its global expansion plan, the spokesperson continued.
Ferovinum, which is designed to commoditise the wine and spirit industries, was founded in 2018 by former investment bankers Mitchel Fowler and Daniel Gibney. Its platform uses technology to provide wine and spirit producers, distributors, and merchants with inventory-financing structures that it claims were previously reserved for large commodity producers and traders.
