US online wine retailer hoping to make a Splash in UK

Splash, an American direct-to-consumer online wine retailer, is hoping to make waves in the UK via London-based crowdfunding platform Crowdcube.

As reported by ProactiveInvestors.co.uk, the family-run company, which has over 60,000 customers in the US, is seeking to raise £1.5 million in equity through Crowdcube to fund its expansion into the UK

At the forefront of the online wine industry, Splash sources wines from all over the world for its members and only carries a maximum of 200 wines at a time to keep its offering fresh and relevant.

Robert Imeson, Splash Wines founder and CEO

Members pay a small annual fee of US$60, which gives them access to the Splash portfolio of wines, which they can either be sent in curated 15-bottle cases chosen for them, or by building up their own cases online.

According to ProactiveInvestors.co.uk, Splash has generated over US$20mln in revenues since it launched in late 2014, with revenues exceeding US$8m last year. Splash is on track to report a pre-tax profit in excess of US$630,000 – more than triple its 2016 earnings.

“This is our first significant equity offering and we’re delighted that we are able to do it in London.

“The Splash model is gaining traction in the marketplace and we are particularly enthusiastic that our offering is now available to investors in the UK because of our plans to expand operations there as early as the second half of this year,” said Robert Imeson, Splash founder and CEO.

“Investors that participate in this offering via Crowdcube will hopefully be among our first customers in the UK.

“The funds generated by this raise on Crowdcube will be used to add inventory and acquisition channels to ensure that we continue on our growth trajectory and become one of the leaders in this exciting and rapidly expanding category,” he added.

Crowdcube is the world’s first and largest investment crowdfunding platform. When it enters the UK, Splash will directly compete with Naked Wines.