Australian alcohol subscription-based service Liquor Loot has secured a $1.5 million funding round led by investment service, Gandel Invest. Gandel Invest owner Tony Gandel says he is bullish about Liquor Loots’ local growth and potential overseas expansion.
This is the second round of funding the liquor service has gained after its $1 million Series A funding round in November 2020, just as it was expanding to its Gin Loot service.
Liquor Loot CEO Joel Hauer said he was proud of the company’s achievements but recognised that this was just the beginning.
“We have the vision and are determined to create a global category leader from Australia,” said Hauer.
The funding was led by Gandel Invest but also saw support from prior investors such as Dany Milham and Mitch Taylor, owners of furniture business Koala.
Liquor Loot launched in 2016 incorporating a ‘spirit as a service’ business model. Utilising its two platforms Whisky Loot and Gin Loot, the services deliver three-hand selected whisky and gin tasters every month.
Since its inception the liquor service has tripled its revenue every year. In 2020, it made more than 40,000 and is on its way to doubling that this year, Hauer said.
Liquor Loot has been aggressively expanding its reach by creating connections with global distillers Diageo, Pernod Ricard, Moet Hennessy, and Proximo. The alcohol service is also making a mark in the retail world, securing partnerships with David Jones, Aldi and Qantas.
