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Spiritrade secures seven-figure sum to invest in new tech
Drinks trading platform Spiritrade has secures an undisclosed ‘seven figure sum’ from a group of private investors.
The funds, according to the platform, will be used to “support the growth in new technology, platform structure and logistics partnerships to scale up and enhance customer experience.”
Last year the company announced it would move into CBD drinks for the first time
“The global drinks industry size and long-standing inefficiencies make it ripe for technological disruption,” CEO and founder Jimmy Metta said.
“We intend to continue to solve the challenges facing the B2B industry.”
When the company launched last year, 31Dover veteran Metta said he found the drinks sector “very antiquated and open to many inefficiencies.
Spiritrade vets all buyers and suppliers who sign up to the scheme, and uses an escrow server, which allows transactions to be carried out without risk of losing money or merchandise due to fraud, according to the company.