Naked Wines, a UK-based crowdfunding exchange for investing in winemakers, has raised $10m in a third round of funding from Germany-based direct wine merchant WIV Wein International.
Previously, WIV Wein International has invested £9m into Naked Wines in two previous rounds and owns two-thirds of the business; employees own 10% and Rowan Gormley, the founder of Naked Wines, owns the remainder.
The company plans to speed up its expansion in the US and Australia.
Andreas Pieroth, joint managing director of WIV Wein International, said: “We’ve been in the wine business for 60 years, in 24 countries around the world, and Naked Wines’ business model is the biggest revolution we have seen.”
Naked Wines customers act as angel investors, paying £20 per month in exchange for preferential rates and exclusive access to the wine.
Rowan Gormley, chief executive and founder of Naked Wines, who previously worked at Virgin Wines, said: “We want to be a Kickstarter for wine – not a retailer.”
Naked Wines, which first launched in the UK in December 2008, has so far invested £25m in 130 winemakers.