Holyrood Distillery picks wine and spirits finance platform Ferovinum to support growth plans – Scotch Whisky News
Holyrood Distillery picks wine and spirits finance platform Ferovinum to support growth plans
Edinburgh’s pioneering Holyrood Distillery has secured a major new funding package with specialist wine and spirits fintech Ferovinum, to support their ambitious domestic and international growth plans in 2024 and beyond.
The new £2 million plus deal will be used to release capital from Holyrood’s maturing cask inventory, primarily to fund new fill casks and carry cased goods to overseas markets, as the business rolls out a busy programme of new releases and market expansion for its innovative whisky, gin and rum brands.
At the vanguard of Scotland’s dynamic new wave of whisky production, Holyrood Distillery was founded in 2019 and is dedicated to producing spirits that are truly worthy of the capital city and its proud past as a centre of brewing and distilling.
Today’s announcement follows the release last October of the Distillery’s inaugural whisky ‘Arrival’ – one of the first single malt whiskies to be produced in Edinburgh in a century.
Ferovinum is the only funding platform dedicated solely to wine and spirits enterprises. Its proprietary, first-of-its-kind technology is deployed to meet the specific funding and growth needs of businesses in these sectors, in a more agile and cost-effective way compared to traditional funding options.
The platform works by holding ring-fenced assets during production, storage, global distribution and retail fulfilment, giving companies the flexibility to convert their maturing stock into capital at any point, whenever its needed. Crucially, Ferovinum’s technology also integrates with supply chain, logistics and other business functions to deliver greater efficiencies across the business process.
The specialist capabilities of Ferovinum’s technology and team were key for Holyrood Distillery Managing Director Huw Wright, who explains: ‘Ferovinum has allowed Holyrood Distillery to unlock future plans earlier, with ease and speed. The Ferovinum team go above and beyond to be true partners, finding solutions to any hurdles that arise. Holyrood Distillery has some ambitious plans in place so we require partners who can keep up, see the vision and enhance it. This is exactly why Ferovinum was chosen and asked to come on board, and we are thrilled that they have agreed to come along on this exciting journey with us.’
Ferovinum’s Director of Spirits Gregor Mathieson added: ‘The Holyrood team has achieved a remarkable feat in the past few years, bringing a thriving new Distillery to the heart of Edinburgh and leading a bold new era of modern whisky making in Scotland. Following the success of their excellent first single malt Arrival, this is their time to grow, and to showcase their highly innovative and extraordinarily good spirits to the world. Their need for partners who share their ambition, and who can provide genuine, specialist and hands-on support, means they are a perfect fit for Ferovinum and our technology. With the brilliant foundation they have put in place, we know that Holyrood’s spirits are ready for take off, and we are very proud to be playing a part in their ongoing success’.
Ferovinum was founded in 2018 by finance experts Mitchel Fowler and Daniel Gibney – both also wine and spirits enthusiasts. Initially launched to support the UK’s burgeoning wine industry, the business expanded into the whisky and spirits sector in 2022. The Ferovinum platform is now favoured by a growing list of businesses – distilleries, wineries, merchants, independent bottlers and brand owners.
About Ferovinum
Ferovinum is a first of its kind funding platform designed exclusively for the wine and spirits industry. Its software integrates with the supply chain, logistics and ecommerce infrastructure of the industry, providing users with fast, flexible and cost-efficient access to funds at any point in the business process – from production, through to distribution and retail fulfilment.
Ferovinum has created a ring-fenced platform that holds assets during production, storage and distribution, allowing companies to convert their maturing stock into a just-in-time asset. This flexibility allows businesses to access capital when they need it, reducing their liquidity risk and reliance on payment terms, as well as protecting profitability should supply chain disruptions occur. Ferovinum clients can also take advantage of supply chain and inventory management tools to access automation and reduce the operational burden of getting their products into the hands of consumers.
For banks and financial institutions, Ferovinum’s technology provides a risk-managed and cost-efficient way to deploy capital into this traditionally hard to bank sector, where high levels of fragmentation have led to a historic lack of access to working capital. It uses structures adopted by investment banks in commodity markets to deploy a broad range of capital from credit funds, banks and other institutions.
Ferovinum was founded in 2018 by Mitchel Fowler, an experienced investment banker and commodity supply chain expert; and Daniel Gibney, who has years of experience in corporate finance, debt restructuring and hospitality. With bases in London, Scotland and the USA, Ferovinum has a growing team of specialists in finance, tech, wine and spirits, led by Chief Technology Officer Ho Yin Lai, Head of Growth Max Noble and Director of Spirits Gregor Mathieson.
About Holyrood Distillery
Opened in 2019, Holyrood Distillery was founded by Canadian couple, Rob and Kelly Carpenter and Scot, David Robertson. The distillery’s founders had a vision to create a new kind of distillery, one that would reflect the dynamism and diversity of present-day Edinburgh.
Holyrood is a modern distillery in the heart of historic Edinburgh. Inspired by its surroundings, and never afraid to experiment, the distillery is dedicated to shaping the spirit of tomorrow. Their range includes New Make Spirit, which showcases their whisky vision and enables whisky drinkers to fully appreciate the spirit before it enters a cask as well as their multi-award winning Height of Arrows Gin and Elizabeth Yard Rum.
The distillery offers a range of tours including ‘The Distillery Tour’, which shows how the team make whisky and gin using innovative new methods and ideas with drinks and sampling throughout (£22pp).
