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Ferovinum gets capital backing to support wine and spirits sector

Published:  14 October, 2021

Ferovinum, the company that provides capital against wine and spirits inventories, has unveiled a new funding facility with BCI Finance that will enable it to increase the scale of its support.

Ferovinum provides the capital using its tech platform to enable customers to upload inventories to access funding, manage their stock holdings and supply chain logistics, and manage cashflows associated with trade receivables.

A new facility has been setup that will support lending for Ferovinum’s next £100m of capital deployed into wine and spirit supply chains.

Ferovinum funds inventories during the shipping and holding periods and carries the burden of payment terms to larger end-buyers for its clients. The business also funds production and maturation periods for wine producers and spirit distillers.

Since launching the wine producer product in 2020, Ferovinum said it is approaching 1,000,000 bottles of wine and spirits funded through the platform.

Ferovinum’s Mitch Fowler (pictured, left, with co-founder Dan Gibney) said: “BCI Finance were extremely impressive to work with. They immediately understood our business model and worked with us to design a bespoke financing package to support our rapidly growing customer book. The process was quick and efficient from start to finish and BCI has the scale and flexibility to continue to support our rapid growth profile.”

BCI Finance MD Sam Kemp said: “At BCI Finance we are passionate about working with truly innovative lending businesses that are on a mission to disrupt their industries.”

He added: “We believe that the Ferovinum platform has the ability to modernise an antiquated, fragmented global supply chain, while levelling the playing field in enabling smaller and independent producers to access funding in a way that had previously been the privilege of select larger players.”

BCI Finance has made the deal with Ferovinum via its fintech-focused BCI Credit Opportunities Fund.