WineFi, which aims to provide cost-effective access to fine wine as an asset class, has grown rapidly since its launch in October 2023. The investment from Coterie Holdings follows WineFi’s pre-seed round, led by SFC Capital, with support from Founders Capital and an array of high-profile angels – including incoming Inchcape chairman Jerry Buhlmann, the firm said in a statement.

Alongside the investment, WineFi announced that Michael Saunders will be joining WineFi’s board of directors. This comes shortly after WineFi’s appointment of Crowdcube’s former chief growth officer, Jonathan Keeling.

Saunders, who has more than 40 years’ experience in the wine sector and was previously CEO of Bibendum, joined Coterie Holdings as CEO in January this year. Coterie Holdings – which owns merchants Lay & Wheeler and Hallgarten & Novum Wines, as well as a wine lending platform, Jera, and fine wine storage facility, Coterie Vaults – has its sights set on becoming a market leading fine wine group.

Gregory Swartberg, founder and CEO of London wine merchant Cru Wine, and Alexander Westgarth, CEO at wine investment firm WineCap, also believe that investing in fine wine is an attractive proposition. See more commentary about wine investment here.