eBev secures $2m Series A funding to accelerate growth
Sydney-based eBev, Australia’s largest independent online beverage ordering platform and financing service for the beverage trade, has raised $2 million in a Series A funding round led by major institutional investor, Artesian VC.
Founded in 2015, the eBev platform boasts the most extensive online beverage catalogue in Australia and has become the online hub for distributors, producers, importers, brewers and major wholesalers to showcase and sell their products to Australia’s biggest hospitality groups and independent venues. The company recently launched a new trade credit service, eBev Trade, which guarantees payment to suppliers within three days and aims to reduce credit risk and enable redirection of resources to business growth activities for beverage suppliers.
Debuted in Q4 2020, eBev Trade has recorded a robust growth in 2021, onboarding over 1,000 venues and over 100 brands across all beverage types (including non-alcoholic), now selling via eBev Trade. Venues are already seeing the benefits of ordering from many suppliers in a single order on a single account, reducing the need to open and manage accounts with multiple suppliers, whilst also saving significant time in the ordering process.
Ian Harris, CEO of eBev, said:
“ The huge hit by COVID to the On-Premise beverage market on both the Venue and supplier side cannot be understated. eBev Trade will assist businesses get back on their feet quicker with improved cash flow and limited risk in selling to venues who are themselves struggling to get back to normal trading. Our platform offers tangible benefits to both sides of the beverage trade, with the further investment we now have the runway for our platform to really benefit the Beverage Trade community.”
The fresh capital will be used to further push the company’s recently launched trade credit service, eBev Trade, and significantly accelerate its growth trajectory towards its goal of having all Australian licensed premises with an eBev account.
“This capital raise positions eBev well to support our plans for aggressive growth in engaging both suppliers and licensed premises. We welcome the addition of the new shareholders and the deepening of relationship with our existing shareholders including the Artesian VC fund,” said Ian Harris.
The latest round follows its first seed raise led by Sydney Angels in 2016. The deal was significant to eBev’s expansion to Melbourne and other states and the expansion of other beverage types such as beer, spirits, cider and non-alcoholic to the platform, the development of customer relationship management tools and system integration on both the venue and supply side of the beverage trade, and its new trade credit service, eBev Trade.
Adrian Bunter, Non-Executive Director and Sydney Angels lead investor states,:
“Since the first investment in eBev, we have seen it develop to become Australia’s leading online beverage marketplace covering almost all suppliers in the entire market and used by Australia’s leading venue groups. eBev Trade is solving a real problem in the market and has been getting fantastic feedback. It will be instrumental to suppliers and venues, helping them recover from the impacts of COVID shutdowns, and helping them grow their business.”
With over 65,000 products from 700 suppliers and $150m worth of annual orders, eBev’s credibility in market is clear. With further investment to develop the platform and grow the simplified trade financing product, eBev Trade continues to simplify and empower the way the beverage trade does business.
Founded in 2015, eBev is Australia’s largest independent online ordering and financing platform for the Beverage Trade. Simplifying the ordering process for thousands of hospitality venues whilst reducing business administration for both venues and suppliers sees over $150 Million’s worth of orders go through the platform a year. eBev Trade now further empowers our suppliers with simplified credit functions and guaranteed payment within 3 days.