Mitchel Fowler, a finance expert from the famous Hunter Valley wine region of Australia, has returned to his roots to revolutionize the wine industry. He’s launched a platform called Ferovinum, which solves the wine industry’s long-standing problems with procurement and inventory management.
Ferovinum is a platform that helps wine producers manage their inventory and get loans. Conventional banking products aren’t suitable for winemakers because their inventory can’t be easily used as collateral. Ferovinum turns the wine into a “just-in-time asset,” allowing producers to focus on growth instead of storing large amounts of inventory.
Here’s how it works: wine producers list their products on the platform during production and distribution, then sell them to resellers. The platform also helps producers manage their supply chain and get access to new markets.
Ferovinum is a new way for businesses in the drinks industry to grow without relying on traditional equity funding. This means smaller producers can now access financing, making the market more democratic.
The company has raised $23.2 million and already helped provide £114 million in working capital to the UK wine and spirits industry. Ferovinum is also unique because it’s a one-stop-shop for wine and drinks producers, offering end-to-end solutions for inventory management and financing.
Some big names in the industry have already joined Ferovinum, including two Edinburgh distilleries and several wine producers in the UK. The company recently received investment from European investment firm Notion Capital and other investors.
