London-based fine wine investment specialist Cult Wines has secured a seven figure funding facility from HSBC UK to enable the business to expand into new markets and explore potential acquisitions.
This tailored finance package, will allow Cult Wines to meet the growing global demand for fine wine investment by accelerating the opening of a new office in New York in Spring 2020 as well as capitalising on further opportunities in Japan and Australasia.
With existing offices in Hong Kong, Singapore and Shanghai, the funding package will strengthen those growing businesses, helping to take advantage of opportunities that arise in Asia, underpinning the company’s strategic goals. The facility will also see an investment in the firm’s global infrastructure and digital platforms.
Portfolio based investment grade wine is one of the most established alternative assets available to investors looking for tax-efficient, asset backed diversification and capital growth opportunities.
Tom Gearing, CEO and Co-Founder of Cult Wines, said:
“This funding means we can push on with our plans to meet demand from an increasingly international customer base. It also puts us in great position to achieve our business goals for the next decade.
“We look forward to further strengthening our relationship with the bank as our business grows and interest in fine wine investment around the globe continues to increase.”