BCI Finance (via the fintech-focused BCI Credit Opportunities Fund) and Ferovinum are pleased to announce the launch of a new funding facility which enables Ferovinum to materially increase the scale of its support for the wine and spirits industries.
Ferovinum provides capital against wine and spirits inventories, using its tech platform to enable customers to upload inventories to access funding, manage their stock holdings and supply chain logistics and manage cashflows associated with trade receivables.
This innovative solution alleviates the capital and logistical burden of inventory-intensive industries and was the perfect fit for fintech specialist lender BCI Finance.
BCI Finance Managing Director Sam Kemp comments, “At BCI Finance, we are passionate about working with truly innovative lending businesses that are on a mission to disrupt their industries. We believe that the Ferovinum platform has the ability to modernise an antiquated, fragmented global supply chain, while levelling the playing field in enabling smaller and independent producers to access funding in a way that had previously been the privilege of select larger players. We’re delighted to be supporting Ferovinum and to be deploying capital into its sector, and we look forward to continuing to work with the business as it moves through the next phases of its growth.”
This facility has been setup to bridge into Ferovinum’s upcoming multi-tranche facility and will support senior lending for Ferovinum’s next £100m of capital deployed into wine and spirit supply chains.
Ferovinum’s Mitch Fowler added, “BCI Finance were extremely impressive to work with. They immediately understood our business model and worked with us to design a bespoke financing package to support our rapidly growing customer book. The process was quick and efficient from start to finish and BCI has the scale and flexibility to continue to support our rapid growth profile.”
About BCI Finance
BCI focuses on the Fintech industry, helping to meet the funding requirements of fast growing and disruptive UK & Ireland-based businesses. BCI sits within Blenheim Chalcot, the UK’s leading venture builder and through this association has real empathy and expertise in supporting fast growth businesses as they seek to scale.
BCI’s agile approach and positioning in the start-up ecosystem enables borrowers to access flexible, medium-term capital solutions at a time when traditional sources of debt financing are unlikely to be available. Led by an industry expert team and having executed more than £350m of investment, BCI provides asset-backed debt finance either as Senior or Mezzanine tranches and can be flexible across the borrower’s capital structure as their loan books scale.
Ferovinum is a world-first working capital platform that enables wine & spirits producers and wholesalers to release capital against their inventory & receivables. Ferovinum funds inventories during the shipping and holding periods and carries the burden of payment terms to larger end-buyers. For wine producers and spirit distillers & bottlers, Ferovinum can also fund production and maturation periods to enable greater capital efficiency, investment for growth and reduced liquidity risk.