Cult Wines, a London, UK-based company creating products and experiences for the wine industry, raised an undisclosed amount in Seed funding.
The round was led by Christophe Navarre, former CEO and Chairman of Moet Hennessy, Chris Jones, former Blackrock CIO of Global Active Equities, Formula 1 driver Valtteri Bottas, and Reda Bedjaoui. Navarre and Jones will also join the board as strategic advisors providing world-class leadership and guidance to propel the company’s growth.
The company intends to use the funds to accelerate its growth trajectory, including supporting technological infrastructure, scale the recently launched CultX, and continued investment in data.
Founded in 2007 and led by CEO Tom Gearing, Cult Wines features two innovative platforms:
- Cult Wine Investment, a fine wine collection and investment management company, which manages a fine wine collection worth more than £290m GBP. Headquartered in the UK, Cult Wine Investment was founded in 2007 and has offices in Canada, China, Hong Kong, Singapore, and the US supporting clients in more than 80 countries.
- CultX, a digital trading platform for buying, selling and collecting investment grade fine wine with over £200m of the world’s most prestigious wines available to bid on. The mobile and web-based trading app provides users with all the tools they need to build, track and manage a fine wine portfolio with real-time data and live markets.