Ferovinum to take supply chain platform international - Global Drinks Intel

‘This deal helps support our objective to help the industry operate a more capital-efficient supply chain.’

UK-based Ferovinum has secured new funding that will allow geographical expansion for the beverage alcohol supply chain platform provider.

The fintech start-up, which commenced trading in 2018 and provides working capital along with supply chain services, has received backing to the tune of US$550m from private capital asset manager Pollen Street Capital and an unnamed “leading” investment bank. The money forms part of Ferovinum’s service provision to drinks brand owners to “help them solve critical working capital problems”.

Subsequently, the company, which has been focusing until now on sales in – and imports into – the UK, intends to head to Australia along with the European Union and US markets in the coming months. Today’s “asset-basked securitisation programme” will also fund storage facilities in California, Florida, New Jersey and Texas, the firm added.

“This deal helps support our objective to help the industry operate a more capital-efficient supply chain that allows them to focus resources on their core activities and improve margins and profitability across the value chain,” said co-founder & CEO Mitchel Fowler.

Pollen Street investment director Connor Marshall-Mckie, added: “The Ferovinum product is a great example of innovation in asset-backed finance, and is a perfect fit for our asset backed credit strategy. We look forward to supporting their continued success and working closely together on this journey.”

Speaking to Global Drinks Intel earlier this year, CEO Fowler hinted at the expansion plans, noting he had “some exciting things that we’ll be announcing in the coming months that will allow us to massively scale up the participation of securitised capital markets.”