News

Spiritrade raises US$2 million from new investors in first tranche of Series A funding

01 November 2022 By Christian Smith

Online drinks marketplace, Spiritrade, has raised $2 million in the first tranche of its series A funding, with a second tranche for a significantly higher level of funding to follow.

Spiritrade, founded in 2019, has become an indispensable daily trading tool for drinks industry professionals around the globe in the B2B marketplace. The company anticipates that this tranche of Series A funding will allow it to meet “surging demand from from global drinks businesses”.

Partner Content

How the Chardonnay Association of South Africa is changing perceptions

Refined wines define Martínez Lacuesta’s 130-year legacy

Wines of Hungary makes central Europe the centre of attention

Masterclass proves the UK should look out for Lisboa

Jimmy Metta, Founder and CEO of Spiritrade, commented on the news:

“With this additional capital, our innovation velocity will accelerate. In turn, we are set to onboard more businesses by growing our team both in the UK and Asia to capitalise on the strong demand from the global drinks industry.

“Spiritrade is already revolutionising the way drinks are traded, becoming a benchmark for product pricing in the secondary and global markets. This investment will ensure we continue this trajectory.”

Spiritrade is now visible in more than 100 countries, working directly with some of the world’s largest brand owners and warehouses to assist in selling and distribution to global markets.

Craft cider bursary brought back to boost progress in the sector

Sacha Lord resigns as Manchester's night time economy advisor