Spiritrade is a B2B Global Drinks Exchange catering to brand owners, wholesalers, distributors, and retail groups looking to trade inventory more securely, discreetly, and efficiently. Starting in 2019, the company has been leading the way in helping the drinks trading industry to grow and develop.
Pioneering making trading easy for the industry, Spiritrade has grown a lot. In the last year alone, its unique marketplace has grown exponentially, and it now has over 550 members in over 95 countries, and the numbers continue to grow.
How did you develop the idea, and what makes Spiritrade unique?
Jimmy Metta is the Founder and CEO of Spiritrade. Having been in the industry for over 23 years and founded two successful businesses (Vanquish and 31Dover.com), it became clear to Jimmy that there were significant inefficiencies and unnecessary waste in how the industry operates.
The plan was to bring modern technology closer to the buyers and sellers as many still complete large transactions using spreadsheets and don’t have the technology at their fingertips to make a transaction. In addition, the process of listing products with wholesalers can be time-consuming and convoluted and often involves listing fees.
Spiritrade’s state-of-the-art technology enables buyers and sellers from the drinks industry to connect globally, ensuring stock inventory is sold in the right market and place. With rapid progress, Spiritrade is becoming the global benchmark for the drinks industry as the platform gives access to transparent market pricing and eliminates any transactional risk.
The revolutionary step within the market is that its platform provides a transparent way of trading and provides much more safety to the global drinks industry.
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How has Spiritrade evolved over the last couple of years?
The company started with a focus on spirits which also inspired the name of the company. Thanks to the demand from its members, Spiritrade started developing new partnerships with other companies, extending the categories of products to wines and champagne houses, breweries, distilleries
Spiritrade is fast becoming a selling channel for the leading brand owners who want complete control over their listings whilst selling into the intended markets. Furthermore, all members can transact and negotiate through a click of a button, making drinks trading much more seamless and efficient.
What can we hope to see from you in the future?
With a recent raise of $2 million in its latest round of funding, in the first tranche of its Series A raise, development in technology is Spiritrade’s primary focus, and there is a lot it wants to do.
Upcoming new changes are based on the feedback Spiritrade received from its members, and the company wishes to ensure it delivers the best experience possible.
Spiritrade will launch its latest platform version in the coming weeks, including a brand-new interface and user experience, making it easier to transact. Every new feature has been carefully thought out to guarantee it fully accommodates customers’ needs.
In addition, the latest platform will launch a host of new features ensuring buyers and sellers can maximise their opportunities and achieve much better results for their businesses.