eWibe, the live market that traded 10.000 bottles of fine wine has raised another 700.000 euros

The club of investors is continuing to grow - which now has 50 “business angels” - and has added famous names in entrepreneurship and high-profile managers, such as Paolo Berlusconi, Alberto Gennarini, Diego Palano, Mattia Riva, as well as a a private equity company that supports startups and innovative SMEs, iNSQUARED. They have all decided to support the growth of eWibe, investing 450.000 euros in the second phase of a capital raising operation, which has reached a total 700.000 euros, through the subscription of Participatory Financial Instruments. The first operation was worth 250.000 euros and was completed in April 2023, which brought an investment holding company, founded and led by Michele Padovani, to participate in the capital of eWibe. eWibe aims not only to further strengthen the team and services for users, with these new resources, but most of all to start an internationalization process that will lead the company to progressively expand in Europe. Opening the fine wine market to small savers and wine lovers without enormous financial capital behind them has been the mission of eWibe, the Italian live market of fine wines, since the beginning. Starting from July 2022 to today, eWibe has already counted around 10.000 bottles, worth 4 million euros, on the live market, and over 7.000 users. The fine wine market has traditionally been closed and a not very dynamic market, however it has been capable of generating cumulative growth of +94% over the last ten years. The positive trend was confirmed also in 2022, which registered a performance that went against the trend of the financial markets, highlighting 10.7% growth. Growth also continued in the first half of 2023, supported by the recent release of some of the most highly anticipated bottles in the new calendar year, on the market. Overall, the global market of fine wines and fine spirits reached 77 billion US dollars in 2021, and is estimated to exceed100 billion US dollars by 2025. Edoardo Maria Lamacchia, founder and CEO of eWibe, has also renewed his confidence in the growth potential of eWibe, especially with the entry of investors and new partners. “The club of our business angels has risen to 50, which includes high-profile investors, entrepreneurs and managers. Thanks to their support, we will not only continue to grow and upgrade the services offered to our users, but we also aim to overcome National borders and progressively expand in Europe. We are convinced that the fine wine market will attract more and more attention on the international level because of its excellent performance skills not related to the financial markets, and also through the resilience it has show over these challenging and complicated years. We will continue to work on the development of eWibe, providing an increasingly rich platform of offers and opportunities, in line with our customers’ needs”.