Italian wine marketplace Viniexport expands in Europe
Viniexport, an online marketplace from Italy that enables companies to buy and sell wine worldwide, has secured a 2 million euros funding round. With the money, the marketplace wants to pursue its European expansion.
And it looks like the next stops will be in Spain, Germany and France, as Tech.eu reports. And it was Barcelona-based venture capital firm Inveready that invested the two million euros in Viniexport. The investor deployed capital from its Inveready Venture Finance II fund, which held a final close on 23 million euros two years ago.
“We are pleased to be able to support the international expansion of a validated business model such as Viniexport”, says Carlos Conti, general partner of Inveready. “This is our first investment outside Spain and we are excited to act as ambassadors for Viniexport in our natural market. We have made other investments in the wine market in the past and we believe that we can contribute knowledge and contacts to the company.”
Expansion in Europe
Viniexport is now establishing an office in Barcelona, so it can grow outside its home country of Italy. The wine marketplace recently entered the Spanish market and also wants to be active in Germany and France. It’s targeting sales to reach 10 million euros this year.
Viniexport was founded in Italy in 2015 and provides an online platform that enables companies such as restaurants to buy wine from diverse producers directly. But it also works the other way around: it lets producers of wine and spirits sell their products to international buyers. The company is currently selling over 100,000 bottles per month and has around 7,000 customers and 2,000 suppliers.