visimoney
Key points:
- Edinburgh-based Holyrood Distillery has secured a funding package with fintech Ferovinum.
- The £2 million plus deal will be used to support Holyrood’s domestic and international growth plans.
- Ferovinum’s technology allows companies to convert maturing stock into capital at any point.
Hollyrood Distillery secures funding package with fintech Ferovinum
Edinburgh’s Holyrood Distillery has secured a new funding package with specialist wine and spirits fintech Ferovinum, to support its domestic and international growth plans in 2024 and beyond. The £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 it rolls out a programme of new releases and market expansion.
Ferovinum’s director of spirits, Gregor Mathieson, said: “The Holyrood team has achieved a remarkable feat in the past few years, bringing a new distillery to Edinburgh and leading a new era of modern whisky making in Scotland.” The platform works by holding ring-fenced assets during production, storage, global distribution and retail fulfilment, giving companies the flexibility to convert maturing stock into capital at any point. Ferovinum’s technology also integrates with supply chain, logistics and other business functions to deliver greater efficiencies across the business process.
