Sydney-based eBev, which claims to be 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.
CEO of eBev Ian Harris 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 Harris.
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