Inveready leads €2m round for Viniexport

The VC house deployed capital from its Inveready Venture Finance II fund, which held a final close on €23m in 2016.

Inveready used a hybrid debt and equity instrument for the financing. According to the firm, this type of financing, accessible to companies that have demonstrated the viability and scalability of their business model, allows them to minimise dilution compared to an all-equity funding round.

The deal was structured in four different tranches and had the support of the current Viniexport partners and shareholders.

The company will use the fresh capital to expand internationally, especially in Spain, France and Germany.

Company
Founded in 2015 and headquartered in Pescara, Viniexport manages an online platform to buy and sell wine, which connects wineries with restaurants and hotel chains. The company currently sells around 100,000 bottles per month and has approximately 7,000 customers and 2,000 suppliers. Viniexport has recently entered the Spanish market and opened an office in Barcelona. It expects to reach revenues of €10m in 2018.

People
Inveready – Carlos Conti (general partner).
Viniexport – Eugenio Picca (founder).

Advisers
Equity – LexCrea (legal).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Inveready First Capital
• Venture
• Italy