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Holyrood Distillery secures over £2m in funding

Edinburgh, UK-based gin, rum and whisky distiller, Holyrood Distillery, has secured a £2 million funding package from wine and spirits fintech Ferovinum. The new deal aims to release capital from Holyrood's maturing cask inventory. Its primary purpose is to finance the acquisition of new fill casks and facilitate the export of cased goods to international markets, as the business rolls out a programme of new releases and market expansion for its whisky, gin, and rum brands. Ferovinum was founded in 2018 and was initially launched to support the UK’s burgeoning wine industry, before it expanded into the whisky and spirits sectors in 2022. Ferovinum's funding platform is focused on supporting wine and spirits enterprises. Utilising its proprietary technology, the company caters to the distinct funding and growth requirements of businesses within these sectors, offering what it says is a more agile and cost-effective alternative to traditional funding options. The platform secures assets from production to retail, allowing companies to convert maturing stock into capital where necessary. Ferovinum's technology also integrates with various business functions, improving overall efficiency. Huw Wright, distillery managing director for Holyrood Distillery, said: “Holyrood Distillery has some ambitious plans in place so we require partners who can keep up, see the vision and enhance it. This is exactly why Ferovinum was chosen and asked to come on board, and we are thrilled that they have agreed to come along on this exciting journey with us." Gregor Mathieson, director of spirits for Ferovinum, added: “The Holyrood team has achieved a remarkable feat in the past few years, bringing a thriving new distillery to the heart of Edinburgh and leading a bold new era of modern whisky making in Scotland. Their need for partners who share their ambition and who can provide genuine, specialist and hands-on support means they are a perfect fit for Ferovinum and our technology." The announcement follows the release of the distillery’s first whisky last October, which the distiller said marked "one of the first single malt whiskies produced in Edinburgh in a century".

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