Whisky Focus - Holyrood Distillery Secures Funding To Support Growth Plans

Holyrood Distillery Secures Funding To Support Growth Plans


30th January 2024
Edinburgh's Holyrood Distillery has successfully secured a significant new funding arrangement in collaboration with Ferovinum, a specialised fintech focusing on wine and spirits.

Holyrood Distillery

Edinburgh's Holyrood Distillery has successfully secured a significant new funding arrangement in collaboration with Ferovinum, a specialised fintech focusing on wine and spirits. This financial support aims to bolster Holyrood's ambitious plans for domestic and international expansion in 2024 and beyond.

The substantial deal, exceeding £2 million, will be utilised to unlock capital from Holyrood's maturing cask inventory. The primary focus is on financing new fill casks and transporting cased goods to overseas markets, as the company executes an extensive program of new product launches and market expansion for its innovative whisky, gin, and rum brands.

At the forefront of Scotland's dynamic new era of whisky production, Holyrood Distillery, established in 2019, is committed to crafting spirits that truly reflect the capital city's rich history as a hub of brewing and distilling.

This announcement comes on the heels of last October's release of the Distillery's inaugural whisky, 'Arrival,' marking one of the first single malt whiskies produced in Edinburgh in a century.

Ferovinum stands out as the exclusive funding platform dedicated solely to wine and spirits enterprises. Their pioneering technology, a first of its kind, is tailored to meet the unique funding and growth requirements of businesses in these sectors, offering a more agile and cost-effective alternative to traditional funding avenues.

The platform's innovative approach involves holding ring-fenced assets throughout production, storage, global distribution, and retail fulfilment. This provides companies with the flexibility to convert maturing stock into capital whenever the need arises. Crucially, Ferovinum's technology seamlessly integrates with supply chain, logistics, and other business functions, enhancing overall efficiency throughout the business process.

The specialist capabilities of Ferovinumís 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."

Ferovinumís 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 Holyroodís spirits are ready for take off, and we are very proud to be playing a part in their ongoing success."

Established in 2018 by finance aficionados Mitchel Fowler and Daniel Gibney, who share a passion for wine and spirits, Ferovinum originally emerged to bolster the thriving wine industry in the UK. However, in 2022, the business broadened its scope to encompass the whisky and spirits sector. Today, the Ferovinum platform is the preferred choice for an expanding array of businesses, including distilleries, wineries, merchants, independent bottlers, and brand owners.

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