Fero surpasses US$1 billion in inventory
The drinks industry supply-chain platform has now traded more than 100 million bottles, db can reveal. The milestone is “a testament to both the strength of demand and power of the platform we are building for the industry”, said CFO Dan Gibney.
Fero (formerly Ferovinum), the purpose-built operating system for the drinks industry, has announced that it has hit the milestone of US$1 billion in inventory traded via its platform.
The platform helps drink businesses to fund, move, and manage their stock. It operates by lending money against produce stored in cellars/distilleries so that companies’ money isn’t tied up on stock. When that stock is sold on, Fero also oversees its delivery.
The model is the first of its kind, unlocking supply-chain efficiencies, and offering working capital that allows companies to navigate some of the unique challenges drinks businesses face.
Bravery pays off
This landmark is the culmination of numerous strategic moves by Fero in recent years. In 2023, db reported that Fero had struck up a £100 million lending deal with Natwest that would change the way that capital is funnelled into wine and spirits businesses. It was hoped that the deal would unlock larger-scale capital provision to wine and spirit businesses, and improve access to capital in a sector that has historically been hindered by its fragmentation and long maturation times.
Then, in 2024 Fero secured a huge round of equity funding, before completing a $550 million securitisation deal last summer, increasing the company’s liquidity, and allowing it to offer more competitive rates to its customers.
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The platform has now facilitated the trade of more than 100 million bottles across over 30 markets worldwide. If you laid out that many items side by side, it would cover 336 football pitches, or wrap around the moon three times.
Defining moment
Mitch Fowler, CEO and co-founder of Fero, labelled the landmark “a defining moment.”
He said: “We built Fero to remove the supply-chain complexity and capital friction that has held this industry back for decades. The pace that the industry is now adopting this new operating model proves the value we’re delivering.”
Dan Gibney, CFO and fellow co-founder, called the achievement: “a testament to both the strength of demand and power of the platform we are building for the industry.”
Fero continues to expand its capabilities and market presence across the UK, US, Ireland, Netherlands, Australia, and beyond.
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