Financing and supply chain platform for wine and spirits companies, FerrofenumAramex has completed a £17.5m Series A funding round.
Companies in the beverage industry face a very specific set of challenges, including major liquidity constraints (with money tied up in inventory and payment terms), a complex and antiquated supply chain, and a highly regulated global market that creates friction and barriers to selling internationally.
Ferovinum has created an integrated digital platform that helps companies finance, produce, buy and sell in the global wine and spirits markets.
Founded by Mitchell Fowler (CEO) and Daniel Gibney (CFO), Ferovinum has been in operation since 2018 and has raised over $35 million in funding. Wine and spirits bottles so far.
The company has already seen huge growth in the UK market, with over £170m of products traded through the platform and annual sales growth of 1,000 per cent since early 2023.
To date, Ferovinum has deployed over £114m of funding to support UK wine and spirits producers, enabling a massive influx of capital markets into the industry.
It provides working capital and supply chain automation until products are sold into the brand’s sales channels. The model leverages trading concepts widely used in commodity markets to provide an improved risk profile, greater flexibility, increased data collection to support underwriting decisions, and lower operating costs at scale.
Capital idea The round was led by General Partner Joss White, who joined Ferrofenum’s board. Shapers VC, Semapa Next, and Ferrofenum’s existing shareholders also participated.
Joss White, General Partner at Notion Capital, says:
“The Ferovinum platform uses technology to give SMEs in the beverage industry access to financing and a full suite of supply chain services.
In this way, the company enables its clients to compete more effectively with larger companies and, ultimately, unlock growth opportunities. We couldn’t be more excited to invest in this company that has revolutionized the industry.”
Mitchell Fowler, co-founder and CEO of Verovenum, says:
“The wine and spirits industry is worth $800 billion a year, yet we run it in an outdated and inefficient way.
At Ferovinum, we are passionate about building technology for the industry in a way that provides the foundation for the most exciting next generation of brands and sellers to succeed.
We are very excited to have the support of Notion Capital. They have a proven track record and a great team in the B2B SaaS space.
“Joss White will be an invaluable member of the Board – he is the Yoda of SaaS!”
This new funding will enable the company to enter new markets and expand its product portfolio across finance and supply chain. The service will also launch in the US and Europe later this year.
Main image: Ferovinum. Image: Not credited.
