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Access Uncorked partners with Capital On Tap to unlock cashflow for wineries

Capital On Tap's systems will enable wine producers to receive the full value of their invoices on the day their wine ships.

In addition, customers' credit risk is assessed in real time, allowing Capital On Tap to offer more flexible credit terms to its clients' customers. As a result, its clients report an average sales uplift of 14%.

Access Uncorked is a recently launched platform offering wineries direct access to wine buyers and retailers around the world.

It also offers the first crowdfunding platform for wine producers which accommodates both business-to-business and direct-to-consumer models.

Catherine Monahan, founder and chief executive of Access Uncorked, said: "We know that cashflow is one of the biggest problems for wineries.

"Customers don't pay bills on time - or sometimes at all - putting wineries in unfortunate circumstances, creating financial woes and an inability to reinvest in the things that matter and even pay their own bills.

"Capital On Tap allows wineries to receive the best rates, 100% cashflow upon shipment of goods. It is essentially the most efficient financing solution in the wine industry."

David Luck, chief executive of Capital on Tap, said: "The wine industry needs new technology that allows better supplier and winery financing and payment processing.

"These areas are costly for any business and have remained unchanged for years and monopolised by the big importers from an import perspective and by banks from a financing perspective.

We are delighted to be partnering with Access Uncorked and providing the best finance solution to the wine industry globally, in addition to providing extended and flexible payment terms to the retailers as well."

Wines of Argentina and Vinitaly International are the first global wine associations to support the new platform.

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