Startup online booze trading platform Spiritrade has raised “an undisclosed seven-figure sum” in a round of international fundraising.
The business, which claims to be the first online booze trader to offer “truly safe and secure” transactions, said it would use the cash to ”support the growth in new technology, platform infrastructure and logistics partnerships to scale up and enhance customer experience”.
Spiritrade said it was ”continuously innovating and adapting to meet industry needs for safe, secure and efficient bulk beverage trading”.
Spiritrade launched in January 2019, promising greater security and simplicity for international booze traders, thanks to the fact it vets all its buyers and suppliers and uses escrow servers to protect transactions.
It initially offered just spirits and beers, but broadened its remit in September to include wine, CBD drinks, soft drinks and energy drinks categories, citing “strong demand” from buyers.
It also introduced new features such as automated uploading – allowing members to upload spreadsheets for bulk trading – and multi-currency functionality.