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Splash Wines gears up for UK launch

The business today announced it is undertaking an equity raise via London-based Crowdcube, marking the company’s first “significant” equity offering, said founder and CEO, Robert Imeson.

The fundraising activity makes Splash Wines among the first US companies to pursue a crowdfunding campaign in the UK, he added, saying the UK raise represented a “unique opportunity”.

“The Splash model is clearly gaining traction in the marketplace and we are particularly enthusiastic that our offering is now available to investors in the UK because of our plans to expand operations into the country as early as the second half of this year,” he said.

The funds generated by the raise would be utilised to add inventory and acquisition channels to ensure Splash Wines continued its growth trajectory and ambition to become one of the leaders in the internet wine industry category.

“Investors participating in the offering will hopefully be among our first customers in the UK,” said Imeson.

Founded in December 2014, Splash is a family run business that sources wines from across the world from Champagne in Reims France, to Zinfandel in California.

The company carries no more than 200 wines at any one time to “ensure quality and relevance of product”, said Imeson, adding a key element of the Splash model was transparent pricing to the consumer combined with the guarantee that clients would never have to pay for wines that don’t meet their expectations.

Members pay an annual fee ($60) for access and shipping. Customers can select from curated signature 15 bottles packs or build their case from wines in the store.

Splash Wines focuses on creative “wine in the glass” acquisition strategies to drive its business to early stage profitability - it  posted more than US$20 million in revenues in its first three years.

In 2017, the Company generated revenues exceeding US$8 million and is expected to more than double revenues in the current year.

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