Spiritrade $2 million Series A
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Spiritrade, the global drinks exchange, has raised $2 million in the first tranche of its Series A funding with participation from new investors. The company expects to close its Series A later on after the second tranche of funding, which is expected to yield significantly higher support from investors.

Spiritrade simplifies the way drinks are traded worldwide. The Series A funding will support business expansion to new markets in order to meet surging demand from global drinks businesses.

Since launching in 2019, Spiritrade has led the way in helping global drinks businesses trade stock inventories with complete safety and efficiency. Spiritrade is now available in 100 countries with over 550 members and an inventory worth over £125 million.

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The founder, Jimmy Metta, who also founded Vanquish and 31dover.com, is an industry veteran. He has over two decades in the drinks industry and is co-founder of award-winning businesses such as Vanquish and 31dover.com.

The platform is available in 100 countries with over 550 members and an inventory worth over £125 million.

Spiritrade Series A funding

Spiritrade $2 million Series A
Jimmy Metta, Founder of UK drinks exchange Spiritrade. Image: Spiritrade.

Spiritrade previously raised $1 million in its Seed round. Now, with $2 million secured from Tranche 1, Spiritrade expects Series A to close with significant investment to enable its growth plans.

“With this additional capital, our innovation velocity will accelerate. In turn, we are set to onboard more businesses by growing our team both in the UK and Asia to capitalize on the strong demand from the global drinks industry,” Jimmy Metta said.

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He added, “Spiritrade is already revolutionizing the way drinks are traded, becoming a benchmark for product pricing in secondary and global markets. This investment will ensure we continue this trajectory.”

The company’s proprietary technology facilitates trades in secure and anonymous environments, all while reducing carbon emissions of stock by reducing travel and wastage.

Spiritrade is the world’s only Global Drinks Exchange. It aims to simplify the way drinks are traded around the world. Its bespoke state-of-the-art technology connects buyers and sellers worldwide, facilitating trades in a secure and controlled environment.

The platform utilizes a modern design for a user-friendly experience that is intuitive and, crucially, designed by industry insiders themselves. As a result, Spiritrade has consecutively won The Drinks Business “Platform of the Year” Award since 2020.

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Staff news writer for The Venture Brat

VB Reporter

Staff news writer for The Venture Brat