Naked Wines, a UK-based online wine retailer, plans to accelerate expansion into the US and Australia, after securing $10m funds from WIV Wein International, a German direct wine seller.
The current investment is the third round from the German business, which had earlier invested £9m in its previous two rounds.
The online retailer allows customers to invest £20 per month in winemakers and in-turn avail discounts and access to any wine produced. Till now, the retailer has invested around £25m in 130 winemakers all across the globe.
Naked Wines CEO and founder Rowan Gormley was quoted by The Financial Times as saying that they want to be a Kickstarter for wine - not a retailer.
Formed in 2008, Naked Wines made its first profit of £1m in 2012 and since then revenues have increased 57% year-on-year.
Overall, the online retailer has 150,000 customers, with 50,000 in the US and Australia. The company foresees the numbers to grow to 250,000 soon. It currently supplies around ten million bottles of wine per year.
WIV Wein International joint managing director Andreas Pieroth told the website that they have been in the wine business for 60 years, in 24 countries around the world, and Naked Wines' business model is the biggest revolution they have seen.
The current investment is the third round from the German business, which had earlier invested £9m in its previous two rounds.
The online retailer allows customers to invest £20 per month in winemakers and in-turn avail discounts and access to any wine produced. Till now, the retailer has invested around £25m in 130 winemakers all across the globe.
Naked Wines CEO and founder Rowan Gormley was quoted by The Financial Times as saying that they want to be a Kickstarter for wine - not a retailer.
Formed in 2008, Naked Wines made its first profit of £1m in 2012 and since then revenues have increased 57% year-on-year.
Overall, the online retailer has 150,000 customers, with 50,000 in the US and Australia. The company foresees the numbers to grow to 250,000 soon. It currently supplies around ten million bottles of wine per year.
WIV Wein International joint managing director Andreas Pieroth told the website that they have been in the wine business for 60 years, in 24 countries around the world, and Naked Wines' business model is the biggest revolution they have seen.
