Side by Side & Transatlantic: Splash Wines Simultaneously Crowdfunds on SeedInvest & Crowdcube

Splash Wines is a US based direct to consumer wine marketing company. Last month, CI did a write up on the company and its Series A crowdfunding round on SeedInvest.

Today, we are noting that Splash Wines is also raising capital on Crowdcube – one of the first transatlantic issuers to leverage a partnership announced by the two platforms in 2017.

Splash Founder and CEO Robert Imeson said they were delighted to be able to do the transatlantic offer;

“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 United Kingdom because of our plans to expand operations into the UK as early as the second half of this year. Investors that participate in this offering via Crowdcube will hopefully be among our first customers in the UK. The funds generated by this raise on Crowdcube will be utilised to add inventory and acquisition channels to ensure that we continue on our growth trajectory and become one of the leaders in this exciting and rapidly expanding category.”

The listing on Crowdcube reflects the combined total of the offer. Using a Nominee structure, investors will gain a beneficial interest in equity in this US-based company that will be held on behalf of Investors by a Nominee. The listing in the US on SeedInvest is a side by side offering thus accepting both accredited and non-accredited investors (Reg D 506c & Reg CF). Clearly, Splash views the UK listing as not only access to growth capital but a chance to market the emerging brand.

As for the company’s operations, in 2017, Splash generated revenues of about US $8 million and had over 60,000 customers. In Q1 2018, Splash achieved a profit of $47,000 with March marking the 30th straight month of profitability. Pre-money valuation was set at $15 million. Splash is a wine club type service that prides itself on high curation of quality lines at an affordable price. 

“Crowdcube is committed to helping ambitious businesses access investment, and to offering exciting investment opportunities to our members,” stated Crowdcube co-founder Luke Lang. “European cross-border transactions have resonated with our members, and we’re thrilled to bring exciting US businesses like Splash Wines, onto our platform.”

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