P101 leads €3.8m round for Tannico

The deal saw several business angels participating in the round, including Matteo de Brabant, founder of marketing services provider Jakala Group; Maurizio di Robilant, founder of the brand advisory firm Robilant Associati; and Stefano Saccardi, managing director at Campari. Following the transaction, the business was reportedly valued at €10m.

According to press reports, the company aims to use the capital injection to expand its business across the UK, France and Switzerland.

Previous funding
In April 2013, Tannico raised a €500,000 seed round of funding from Milanese accelerator Boox, which was founded by P101 managing director Andrea Di Camillo and Tannico's founder Marco Magnocavallo. More recently, Club Digitale and P101 provided a €1m funding round in May 2015.

Company
Founded in 2012, Tannico is an online marketplace for Italian wine. Headquartered in Milan, the business targets the home delivery market as well as restaurants and business events.

According to Tannico, the company distributes 6,000 wine brands and has a client base of 40,000.

Tannico employs a staff of 20 and posted a turnover of €3m in 2015 and €6m in 2016.

People
P101 – Andrea Di Camillo (managing director).
Tannico – Marco Magnocavallo (founder).

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• Topics
• Expansion
• Technology
• Southern Europe
• Italy
• Venture