LONDON—-The business redefining the wine industry’s future, Cult Wines, has announced the successful conclusion of a seed fundraising round. Former Moet Hennessy CEO and Chairman Christophe Navarre, former Blackrock CIO of Global Active Equities Chris Jones, Formula One driver Valtteri Bottas, and Privat 3 Money founder Reda Bedjaoui led the round. Additionally, joining the board as strategic advisors, Navarre and Jones, will offer the organization’s expansion world-class leadership and direction. This strategic capital infusion will fuel the company’s rapid growth trajectory, which will also support technology infrastructure, scale the just-launched CultX, and maintain data investment. Akur Capital, the firm’s independent corporate finance adviser, provided guidance to Cult Wines.
Since its founding in 2007, Cult Wines has worked to increase the fine wine market’s openness and accessibility. The company has effectively overcome significant market hurdles, such as price transparency, liquidity, and accessibility to the market, by aggressively investing in its product and service offerings. Cult Wines currently offers two cutting-edge trading platforms: CultX, an advanced digital trading platform that increases market price transparency, and Cult Wine Investment, which transforms consumer wine investment through a managed portfolio service.
“This investment is indicative of our unwavering commitment to redefining the fine wine market,” stated Tom Gearing, CEO and Co-Founder of Cult Wines. By investing in technology, solid data, and creative solutions that solve the difficulties involved in wine ownership and trading, we remain committed to maximizing the potential of wine as an asset class as we innovate and broaden our global reach. Each of these initiatives improves market accessibility, which promotes growth inside our company and throughout the sector. We are positioned to lead this transition in wine investment, which has a very bright future.
Cult Wines has positioned itself as a tempting investment prospect by establishing an exceptional development trajectory. Gross sales revenue exceeded £90 million in 2022, up 32% year over year. The organization oversees acceptable wine assets worth £290 million, a 45% rise from the previous year.
Christophe Navarre, the former CEO and Chairman of Moet Hennessy expressed his excitement at working with one of London’s most successful businesspeople. “I see significant potential for Cult Wines as a disruptive force in a long-established industry dominated by traditional companies since they have already shown a unique ability to use their knowledge and produce value for investors in a constantly changing market.
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