Fine wine investment firm raises a glass to new seven-figure HSBC funding

A London-based fine wine investment specialist has secured a seven-figure funding facility from HSBC to expand into new markets.

Cult Wines has secured the package in order to facilitate its expansion as well as explore potential acquisition opportunities.

Founded in 2007, Cult Wines now has offices in Hong Kong, Singapore and Shanghai in addition to its London headquarters.

The new funding will enable the firm to open a new office in New York in Spring 2020 and capitalise on further opportunities in Japan and Australasia, as well as investing in the firm’s global infrastructure and digital platforms.

Tom Gearing, CEO and co-founder of Cult Wines, commented: “This funding means we can push on with our plans to meet demand from an increasingly international customer base. It also puts us in a great position to achieve our business goals for the next decade.

“We look forward to further strengthening our relationship with the bank as our business grows and interest in fine wine investment around the globe continues to increase.”

Simon Griffin, corporate director at HSBC UK, added: “Cult Wines is a dynamic business and a leader in the world of fine wine investment.

“With its successful track record and growing demand for its services worldwide, we’re excited to partner with Cult Wines on the next phase of its expansion.”