Drop, the on-demand virtual wine cellar offering expertly curated wine to London doorsteps at just the click of a button has launched its first ever round of crowdfunding, looking to expand its service nationwide.
Drop was founded in 2016 by successful restaurateurs and wine enthusiasts, Ian Campbell and Will Palmer, the pair behind 10 Cases wine bar & bistrot and Parsons seafood restaurant in Covent Garden. They saw an opportunity to fill a growing market gap – a user-friendly service delivering good wine to customers at home, quickly.
Demand for wine delivery continues to surge with each national lockdown, and Drop has seen its customer base double and sales grow +145% during the Covid-19 pandemic, with funds raised, the company aims to increase audience reach to the UK’s 28 million regular wine drinkers.
Palmer said, 'Over 25% of wine drinkers purchase online in a market worth over £1billion, yet nationwide on demand delivery options are almost non-existent. Given the current climate now is the perfect time for Drop to ramp up and we are delighted by the strong start to our raise fuelled by our loyal and passionate community.'
With Drop the right wine is found for the user. The powerful feature-rich app helps customers select wine without being overwhelmed or confused. This is combined with the ultimate of convenience; delivery to London doorsteps within one hour, or at a time of the user's choosing.
Campbell said, 'We passionately believe there is a sacrifice of quality and customer intimacy with the current offering from food delivery giants. Simultaneously credible wine merchants are lagging in technology. What Drop offers is speed, convenience and a range of wine expertly curated and available to your doorstep within one hour.'
Investors supporting Drop will see their money fund ambitious growth projects to capitalise on the current market potential. The key goal will be to scale the business to a national footprint of over 100 distribution points thus offering a curated wine cellar with one hour delivery to customers across the country.
Projects to support this include: expansion to 85 franchise locations, a logistics hub, additional tech development for an enhanced virtual wine cellar experience and AI interpretation of customer needs.
The Seedrs campaign offers a host of benefits to investors such as online discounts up to 30%, free delivery, private wine tastings, a case of wine on their birthday and access to exclusive tastings. This round of investing is looking to raise an initial target of £300k the round will run until 13 February 2021.